^mJ - ~r : n[a^mfmE± PART – B : DEFINITIONS
Bg nm°{bgr _| à`wŠV nm[a^m{fH$ eãX/eãXm| H$s n[a^mfmE± {ZåZ àH$ma h¢:
1. Am`w nm°{bgr Ho$ àma§^ hmoZo Ho$ g_` ~r{_V ì`pŠV Ho$ {ZH$Q>V_ OÝ_ {Xdg
na CgH$s Am`w h¡& bo{H$Z 8 df© H$s Am`w Ho$ {bE `h nyU© dm{f©H$ df© _|
hmoJr&
2. {Z`wŠV dh ì`pŠV h¡ {OgH$mo, nm°{bgr Ho$ A§VJ©V gw{Z{üV àm{á`m|/
{hVbm^ H$m ^wJVmZ Xo` h¡, `{X {hVbm^ Zm_m§{H$V ì`pŠV H$mo Xo` h¡ Am¡a
Xmdo H$s ^wJVmZ VmarI na dh Zm~m{bJ h¡&
3. dm{f©H$sH¥$V àr{_`_ ~r{_V ì`pŠV Ûmam MwZr JB© ~r_m àr{_`_ hmoJr Am¡a
Cg_| H$moB© H$a, ~r_mboIZ {ZU©` Ho$ H$maU {bE OmZo dmbr A{V[aŠV am{e,
AZwd¥{Õ àr{_`_ Am¡a àr{_`_ ^wJVmZ àUmbr Ho$ {bE bmoqS>J `{X H$moB© hmo,
em{_b Zht h¡&
4. g_ZwXo{eVr dh ì`pŠV h¡ {Ogo EH$ g_ZwXoeZ Ho$ AmYma na A{YH$ma Am¡a
{hVbm^ hñVm§V[aV {H$E JE h¢&
5. g_ZwXoeZ {H$gr ''g_ZwXo{eVr'' H$mo A{YH$ma Am¡a {hVbm^m| H$mo hñVm§V[aV
H$aZo H$s à{H«$`m h¡& g_ZwXoeZ, g_`-g_` na g§emo{YV ~r_m A{Y{Z`_,
1938 H$s Ymam 38 Ho$ àmdYmZm| Ho$ AZwgma hmoZm Mm{hE&
6. _yb nm°{bgr, nm°{bgr H$m dh ^mJ h¡, {Og_| _yb {hVbm^m| H$m C„oI {H$`m
J`m h¡ (`{X AZwd¥{Õ H$m M`Z {H$`m J`m h¡ Vmo CgHo$ A§VJ©V {hVbm^m| H$mo
N>mo‹S>H$a, Cg nm°{bgr _| C{„pIV {hVbm^)&
7. _yb ~r_m am{e H$m AW© Cg am{e go h¡ Omo AZwgyMr _| {d{Z{X©ï> h¡ Am¡a
nm°{bgr boZo Ho$ g_` {OgH$m M`Z nm°{bgrYmaH$ Zo {H$`m h¡&
8. bm^mWu/XmdmH$Vm© H$m AW© Cg ì`pŠV/g§ñWm go h¡, Omo Bg nm°{bgr Ho$
A§VJ©V {hVbm^ àmá H$aZo H$m A{YH$mar hmo& bm^mWu, {OÝh| {hVbm^ Xo`
h¡, dh h¡ àñVmdH$ `m ~r{_V `m ~r_m A{Y{Z`_ 1938 H$s Ymam 38 Ho$
A§VJ©V CgHo$ g_ZwXo{eV `m g_` g_` na `Wmg§emo{YV ~r_m A{Y{Z`_
1938 H$s Ymam 39 Ho$ A§VJ©V Zm{_Vm| `m à_m{UV {ZînmXH$m| `m àemgH$m|
`m AÝ` d¡Ym{ZH$ à{V{Z{Y`m|, {OÝhm|Zo CgH$s g§nXm `m Bg nm°{bgr Ho$
A§VJ©V Xo` am{e _mÌ Ho$ {bE ^maVr` g§K Ho$ {H$gr amÁ` `m g§K em{gV
àXoe Ho$ {H$gr Ý`m`mb`,Omo ^r bmJy hmo, go AnZo à{V{Z{Y hmoZo H$m
à_mUnÌ àmá {H$`m h¡&
9. {Za§Va ~r_m`mo½`Vm, `{X {H$gr AZwd¥{Õ H$m M`Z {H$`m J`m h¡ Vmo CgHo$
g{hV nm°{bgr Ho$ nwZM©bZ {H$E OmZo na {ZJ_ H$s g§Vw{ï> Ho$ AZwgma ~r{_V
ì`pŠV/àñVmdH$ H$s ~r_m`mo½`Vm H$m {ZYm©aU h¡ Omo nhbo go CnbãY
gyMZm, XñVmdoOm| Am¡a [anmoQ>m] na VWm nwZM©bZ Ho$ g_` {ZJ_ H$s
~r_mboIZ Zr{V Ho$ AZwgma Bg g§~§Y _| _m§Jr JB© A{V[aŠV gyMZm na
{Z^©a hmoJr&
10. {ZJ_ H$m AW©, OrdZ ~r_m A{Y{Z`_, 1956 H$s Ymam 3 Ho$ A§VJ©V
ñWm{nV ^maVr` OrdZ ~r_m {ZJ_ h¡&
11. nm°{bgr àma§^ hmoZo H$s VmarI Bg nm°{bgr H$s àma§^-VmarI h¡&
12. OmopI_ àma§^ hmoZo H$s VmarI dh VmarI h¡, {Og na {ZJ_, ~r_m (gwajm)
Ho$ {bE OmopI_ H$mo ñdrH¥$V H$aVm h¡, O¡gm{H$ Bg nm°{bgr H$s AZwgyMr _|
Xem©`m J`m h¡&
13. nm°{bgr Omar H$aZo H$s VmarI dh VmarI h¡, O~ ~r_mboIZ Ho$ nümV²
àñVmd H$mo nm°{bgr Ho$ ê$n _| ñdrH$ma H$a {b`m J`m h¡ Am¡a `h g§{dXm
Mmby hmo J`m h¡&
14. n[an¹$Vm H$s VmarI AZwgyMr _| {d{Z{X©ï> dh VmarI h¡ O~ nm°{bgr Ad{Y
nyar hmoVr h¡&
15. {Z{hV hmoZo H$s VmarI, 18 df© H$s Am`w nyU© hmoZo na n‹S>Zo dmbr AWdm
CgHo$ Vwa§V ~mX AmZo dmbr nm°{bgr df©Jm§R> {V{W h¡& Eogo {Z[hV hmoZo H$s
VmarI na `h nm°{bgr {ZJ_ Am¡a ~r{_V ì`pŠV Ho$ ~rM EH$ AZw~§Y _mZm
OmEJm & ~r{_V ì`pŠV nm°{bgr H$m nwU© _m{bH$ ~Z OmEJm Am¡a Bg na
àñVmdH$ AWdm CgH$m g§nXm H$m H$moB© A{YH$ma `m ñdmW© Zht ahoJm&
16. _¥Ë`w {hVbm^ dh {hVbm^ h¡, Omo ~r{_V ì`pŠV H$s _¥Ë`w na Xo` hmoVm h¡,
O¡gm{H$ Bg nm°{bgr XñVmdoO Ho$ ^mJ 'gr' H$s eV© 1.H$ _| {d{Z{X©ï> h¡&
17. {d_wpŠV ànÌ dh ànÌ h¡ Omo Bg nm°{bgr Ho$ A§VJ©V n[an¹$Vm/ Aä`n©U/
_¥Ë`w {hVbm^ H$m Xmdm H$aZo Ho$ {bE nm°{bgrYmaH$/XmdmH$Vm© H$mo ^aZm
hmoVm h¡&
18. {Z`V VmarI dh {Z`V VmarI h¡ O~ àr{_`_ Xo` hmoVm h¡ Am¡a
nm°{bgrYmaH$ Ûmam AXm H$a {X`m OmZm Mm{hE&
19. n¥ð>m§H$Z H$m AW© do eV] h¢, Omo Bg nm°{bgr Ho$ gmW g§b¾ h¢ Am¡a {OZHo$
Ûmam {ZJ_ Zo nm°{bgr _| gh_{Vnyd©H$ g§emoYZ AWdm gwYma {H$E h¢&
20. A{V[aŠV àr{_`_ dh à^ma h¡ Omo ~r_mboIZ {ZU©` Ho$ H$maU {H$gr Eogo
A{V[aŠV OmopI_ Ho$ {bE {b`m OmVm h¡ Omo Ý`yZV_ g§{dXm àr{_`_ _| Zht
{X`m J`m h¡&
LIC’s Jeevan Labh Page 5 of 20
The definitions of terms/words used in the Policy Document
are as under:
1. Age is the age nearer birthday of the Life Assured at the time of
the commencement of the policy except for age 8 years for
which the age is in completed years.
2. Appointee is the person to whom the proceeds/benefits
secured under the Policy are payable if the benefit becomes
payable to the nominee and nominee is minor as on the date of
claim payment.
3. Annualized Premium shall be the premium amount payable
in a year chosen by the policyholder excluding the taxes , rider
premiums, underwriting extra premiums and loadings for
modal premiums ,if any.
4. Assignee is the person to whom the rights and benefits are
transferred by virtue of an Assignment.
5. Assignment is the process of transferring the rights and
benefits to an “Assignee”. Assignment should be in
accordance with the provisions of section 38 of the Insurance
Act, 1938 as amended from time to time.
6. Base Policy is that part of the Policy referring to basic benefit
(benefits referred to in this Policy Document excluding benefits
covered under Rider(s), if opted for).
7. Basic Sum Assured means the amount specified in the
Schedule as opted by the Policyholder at the time of taking the
policy.
8. Beneficiary/ Claimant means the person(s)/ entity who is/ are
entitled to receive the benefits under this policy. The
Beneficiary to whom benefits are payable is the Proposer or
Life Assured or his Assignee under Section 38 of the Insurance
Act, 1938, as amended from time to time or Nominee(s) under
Section 39 of the Insurance Act, 1938, as amended from time
to time or proved Executors or Administrators or other Legal
Representatives who should take out representation to his/ her
Estate or limited to the moneys payable under this Policy from
any Court of any State or Territory of the Union of India, as
applicable.
9. Continued Insurability is the determination of insurability of
Life Assured/Proposer on revival of policy with rider(s) if opted
for, to the satisfaction of the Corporation based on the
information, documents and reports that are already available
and any additional information in this regard if and as may be
required in accordance with the Underwriting Policy of the
Corporation at the time of revival.
10. Corporation means the Life Insurance Corporation of India
established under Section 3 of the LIC Act, 1956.
11. Date of commencement of policy is the start date of this Policy.
12. Date of commencement of risk is the date on which the
Corporation accepts the risk for insurance (cover) as
evidenced in the schedule of the policy.
13. Date of issuance of policy is a date when a proposal after
underwriting is accepted as a policy and this contract gets
effected.
14. Date of Maturity means the date specified in the schedule on
which the Policy term is completed.
15. Date of vesting shall be the policy anniversary date coinciding
with or immediately following the completion of 18 years of age.
On such vesting date, this policy shall be deemed to be a
contract between the Corporation and the Life Assured. The
Life Assured shall become the absolute owner of the policy and
the proposer or his estate shall cease to have any right or
interest therein.
16. Death Benefit means the benefit, which is payable on
death, as specified in Condition 1.A of Part C of this Policy
Document.
17. Discharge form is the form to be filled by policyholder/
claimant to claim the maturity / surrender / death benefit under
the policy.
18. Due Date means a fixed date on which the policy premium is
due and payable by the policyholder.
19. Endorsement means conditions attached/ affixed to this
Policy incorporating any amendments or modifications agreed
to or issued by the Corporation.
20. Extra premium means a charge, due to underwriting decision,
for any additional risk not provided for, in minimum contract
premium.
Plan No.- 936
21. A§{V_ A{V[aŠV ~moZg {Ogo A§{V_ ~moZg ^r H$hm OmVm h¡, dh A{V[aŠV
am{e h¡ Omo nm°{bgr g_m{á na gmYmaU àË`mdVu ~moZg Ho$ gmW Xo` hmoVr h¡
~eV} {H$ Eogm A§{V_ A{V[aŠV ~moZg {ZJ_ Ûmam Kmo{fV {H$`m J`m hmo Am¡a
nm°{bgr Eogo A§{V_ A{V[aŠV ~moZg Ho$ {bE J«mø hmo&
22. nyd©-g_mnZ, Xo` VmarI na ~H$m`m F$U Am¡a/AWdm F$U Ho$ ã`mO Ho$
^wJVmZ _| MyH$ hmoZo Ho$ H$maU nm°{bgr Ho$ ~§X H$aZo H$s H$ma©dmB© h¡ O~
~H$m`m F$U Am¡a CgHo$ ã`mO H$s am{e Aä`n©U _yë` go A{YH$ hmo OmE&
23. {Z:ewëH$ AdbmoH$Z Ad{Y nm°{bgrYmaH$ Ûmam nm°{bgr àmá H$aZo H$s VmarI
Ho$ ~mX 15 {XZm| H$s dh Ad{Y h¡, {OgHo$ Xm¡amZ dh nm°{bgr Ho$
{Z`_/eVm] H$m nwZamdbmoH$Z H$a gH$Vm h¡ Am¡a `{X nm°{bgrYmaH$ {H$gr
{Z`_/ eV© go gh_V Zht h¡ Vmo CgHo$ nmg nm°{bgr dmng H$aZo H$m
{dH$ën h¡&
24. AZwJ«h Ad{Y {H$gr Ow_m©Zo `m {db§~ ewëH$ Ho$ {~Zm àr{_`_ AXm H$aZo Ho$
{bE {Z`V VmarI Ho$ ~mX ~r_mH$Vm© Ûmam {X`m J`m dh A{V[aŠV g_` h¡,
{OgHo$ Xm¡amZ nm°{bgr ~r_m gwajm Ho$ gmW Mmby _mZr OmVr h¡ Am¡a nm°{bgr
Ho$ {Z`_/ eVm] Ho$ AZwgma Cg_| H$moB© ì`dYmZ Zht AmVm&
25. Jma§Q>rH¥$V Aä`n©U _yë`, nm°{bgr Aä`{n©V {H$E OmZo na nm°{bgrYmaH$ H$mo
Xo` Aä`n©U _yë` H$s Ý`yZV_ Jma§Q>rH¥$V am{e h¡&
26. Mmby nm°{bgr Eogr nm°{bgr h¡, {Og na g^r Xo` àr{_`_ AXm H$a {XE JE
h¢ Am¡a AZwJ«h Ad{Y go A{YH$ g_` Ho$ {bE àr{_`_ ~H$m`m Zht h¢&
27. AmBA
© maS>rEAmB© H$m AW© ^maVr` ~r_m {Z`m_H$ Ed§ {dH$mg àm{YH$aU h,¡ {Ogo
nhbo ~r_m {Z`m_H$ Ed§ {dH$mg àm{YH$aU (AmBA© maS>rE) H$hm OmVm Wm&
28. ''H$mbmVrV'' nm°{bgr H$s dh AdñWm h¡ O~ AZwJ«h Ad{Y Ho$ Xm¡amZ Xo`
àr{_`_ H$m ^wJVmZ Z {H$`m J`m hmo&
29. ~r{_V ì`pŠV dh ì`pŠV h¡, {OgHo$ OrdZ na ~r_m gwajm ñdrH¥$V {H$`m
J`m h¡&
30. F$U, {ZJ_ Ûmam nm°{bgrYmaH$ H$mo Aä`n©U _yë` Ho$ EdO _| Xo` dh am{e
h¡, Omo ã`mO g{hV MwH$mB© OmZr h¡&
31. n[an¹$Vm {hVbm^ dh {hVbm^ h¡ Omo nm°{bgr Ho$ n[an¹$ hmoZo na Xo` hmoVm
h¡, O¡gm{H$ Bg nm°{bgr XñVmdoO Ho$ ^mJ 'gr' H$s eV© 1.I _| {d{Z{X©ï> h¡&
32. _hËdnyU© gyMZm nm°{bgr boZo Ho$ g_` ~r{_V ì`pŠV nm°{bgrYmaH$/
àñVmdH$ H$mo nhbo go hr kmV dh gyMZm h¡, Omo àñVwV {H$E JE àñVmd/
nm°{bgr Ho$ ~r_mboIZ H$mo à^m{dV H$aVr h¡&
33. Zm~m{bJ dh ì`pŠV h¡, {OgZo 18 df© H$s Am`w nyar Zht H$s h¡&
34. Zm_m§H$Z dh à{H«$`m h¡, {OgHo$ Ûmam àñVmd-nÌ _| {H$gr ì`pŠV/ ì`pŠV`m|
H$mo ''Zm{_Vr'' Ho$ ê$n _| XO© {H$`m J`m hmo AWdm ~mX _| n¥ð>m§H$Z Ho$
_mÜ`_ go em{_b {H$`m J`m hmo/~Xbm J`m hmo& Zm_m§H$Z g_`-g_` na
g§emo{YV ~r_m A{Y{Z`_, 1938 H$s Ymam 39 Ho$ AZwgma hmoZm Mm{hE&
35. Zm{_Vr Bg nm°{bgr Ho$ A§VJ©V nm°{bgrYmaH$ (Omo ~r{_V ì`pŠV ^r h¡)
Ûmam Zm{_V ì`pŠV h¡/h¢, Omo Bg nm°{bgr Ho$ A§VJ©V Xo` Xmdm {hVbm^ àmá
H$aZo Am¡a Xmdo Ho$ {ZnQ>mZ na {ZJ_ H$mo d¡Y {d_moMZ XoZo Ho$ {bE àm{YH¥$V
h¡/h¢&
36. _¥Ë`w {hVbm^ {H$íVm| _| boZo H$m {dH$ën: Bg nm°{bgr XñVmdoO Ho$ ^mJ 'S>r'
H$s eV© 8 Ho$ {d{ZX}e Ho$ AZwgma, _¥Ë`w {hVbm^ {H$íVm| _| àmá H$aZo H$m
{dH$ën Bg nm°{bgr Ho$ A§VJ©V CnbãY EH$ {dH$ën h¡, {OgHo$ AZwgma
_¥Ë`w {hVbm^ EH$_wíV boZo Ho$ ~Om`, nm°{bgrYmaH$ Ûmam MwZr JB© g_`-
Ad{Y _| {H$íVm| _| {b`m Om gH$Vm h¡&
37. ^mJrXma nm°{bgr H$m AW©, Cg nm°{bgr go h¡, Omo nm°{bgr Ho$ {Z`_/eVm]
Ho$ AZwgma CËnÞ ~MV (bm^) Ho$ {H$gr ^mJ Ho$ {bE hH$Xma hmo&
38. àXÎm nm°{bgr H$s dh AdñWm h¡, O~ àr{_`_ H$_ go H$_ Xmo nyU© dfm] Ho$
{bE AXm H$a Xr JB© hmo Am¡a CgHo$ ~mX H$s àr{_`_ AXm Z H$s JB© hmo&
39. nm°{bgr H$s df©Jm§R> H$m AW©, nm°{bgr àma§^ hmoZo H$s VmarI go EH$ df© Am¡a
CgHo$ ~mX nm°{bgr n[an¹$ hmoZo H$s VmarI VH$, àË`oH$ df© AmZo dmbr dhr
VmarI h¡&
40. nm{°bgr/nm{°bgr XñVmdO o {ZJ_ Ûmam Omar `h XñVmdO o Ama¡ nð¥>mH§$Z (`{X
H$mBo© hm)o h,¡ Omo nm{°bgrYmaH$ Ama¡ {ZJ_ H$o ~rM EH$ H$mZZyr H$ama h&¡
41. nm°{bgrYmaH$ Bg nm°{bgr H$m H$mZyZr ñdm_r h¡&
42. nm°{bgr Ad{Y nm°{bgr àma§^ hmoZo H$s VmarI go n[an¹$Vm H$s VmarI VH$
dfm] _| ì`ŠV dh Ad{Y h¡ Omo nm°{bgrYmaH$ Zo MwZr h¡ Am¡a Omo AZwgyMr _|
{d{Z{X©ï> h¡&
43. nm°{bgr df© Xmo bJmVma nm°{bgr df©Jm§R>m| Ho$ ~rM H$m g_` h¡& Bg Ad{Y _|
nhbm {XZ em{_b h¡, qH$Vw AJbr df©Jm§R> H$m {XZ em{_b Zht h¡&
LIC’s Jeevan Labh
21. Final Additional Bonus, also called as Terminal Bonus, is an
additional amount payable along with Simple Reversionary
Bonus when the policy terminates, provided such a Final
Additional Bonus is declared by the Corporation and the policy
is eligible for such Final Additional Bonus .
22. Foreclosure is an action of closing the policy due to default in
payment of outstanding loan and / or loan interest on due date
when the outstanding loan amount along with interest is to
exceed the surrender value.
23. Free Look Period is the period of 15 days from the date of
receipt of the policy document by the policyholder to review the
terms and conditions of this policy and where the policyholder
disagrees to any of those terms and conditions, he/ she has
the option to return this policy.
24. Grace period is the time granted by the insurer from the due
date for the payment of premium, without any penalty or late
fee, during which time the policy is considered to be inforce
with the risk cover without any interruption .
25. Guaranteed Surrender Value is the minimum guaranteed
amount of Surrender Value payable to the policyholder on
surrender of the policy.
26. In-force policy means a policy in which all the due premiums
have been paid and the premiums are not outstanding beyond
grace period.
27. IRDAI means Insurance Regulatory and Development
Authority of India earlier called as Insurance Regulatory and
Development Authority (IRDA).
28. Lapse is the status of the Policy when due premium is not paid
within the grace period.
29. Life Assured is the person on whose life the insurance cover
has been accepted.
30. Loan is the interest bearing repayable amount granted by the
Corporation against the surrender value payable to the
policyholder.
31. Maturity Benefit means the benefit, which is payable on
maturity as specified in condition 1B of Part C of this Policy
Document.
32. Material information is the information already known to the
Policyholder/Life Assured/Proposer at the time of obtaining a
policy which has a bearing on underwriting of the proposal
/Policy submitted.
33. Minor is a person who has not completed 18 years of age.
34. Nomination is the process of nominating a person(s) who is
(are) named as “Nominee(s)” in the proposal form or
subsequently included/ changed by an endorsement.
Nomination should be in accordance with provisions of section
39 of the Insurance Act, 1938, as amended from time to time.
35. Nominee(s) means the person(s) nominated by the
Policyholder (who is also the Life Assured) under this Policy
who is (are) authorised to receive the claim benefit payable
under this Policy and to give a valid discharge to the
Corporation on settlement of the claim.
36. Option to take Death Benefit in instalments: Option to take
death benefit in instalments, as specified in Condition 8 of Part
D of this Policy Document, is an option available under this
Policy, to receive Death Benefit in instalments instead of
lumpsum amount over a period chosen by the Policyholder/
Life Assured.
37. Participating Policy means a Policy is eligible for share of
profit depending upon the Corporation’s experience in
accordance with the terms and conditions of the policy.
38. Paid - Up is the status of the Policy if the premiums are paid for
at least two full years and subsequent premium/s be not paid.
39. Policy Anniversary means one year from the date of
commencement of the Policy and the same date falling each
year thereafter, till the date of maturity.
40. Policy/ Policy Document means this document along with
endorsements, if any, issued by the Corporation which is a
legal contract between the Policyholder and the Corporation.
41. Policyholder is the legal owner of this policy.
42. Policy term is the period, in years as chosen by the
policyholder and mentioned in the Schedule, commencing
from the Date of commencement of policy to the Date of Maturity.
43. Policy year is the period between two consecutive policy
anniversaries. This period includes the first day and excludes
the next policy anniversary day.
Page 6 of 20 Plan No.- 936
44. àr{_`_, Bg nm°{bgr Ho$ A§VJ©V {hVbm^ gw{Z{üV H$aZo Ho$ {bE, Bg
nm°{bgr XñVmdoO H$s AZwgyMr _| C{„pIV dh g§{dXmJV am{e h¡ Omo
nm°{bgrYmaH$ Ûmam Amd{YH$ ê$n go {d{Z{X©ï> g_`m| na AXm H$s OmZr h¡&
Xo` àr{_`_ ''Hw$b {H$íV àr{_`_'' hmoJm, {Og_| {ZåZ{bpIV àr{_`_
em{_b h¢:
i. _yb nm°{bgr Ho$ {bE {H$íV àr{_`_; Am¡a
ii. `{X AZdw{¥Õ(`m)| H$m M`Z {H$`m J`m h¡ Vmo AZdw{¥Õ(`m)| H$o {bE {H$íV
àr{_`_
Bg nm{°bgr XñVmdO o _| H$ht na ^r à`ŠwV ''àr{_`_'' eãX _| H$mBo© H$a
em{_b Zht h,¡ CZH$m ^JwVmZ AbJ go {H$`m OmZm h&¡
45. àr{_`_ ^wJVmZ Ad{Y dfm] _| dh Ad{Y h¡, {OgHo$ Xm¡amZ àr{_`_ Xo` h¡ &
46. àñVmdH$ OrdZ ~r_m Ho$ àñVmd H$mo àñVwV H$aZo dmbm ì`pŠV h¡&
47. nwZM©bZ àr{_`_ H$s J¡a-AXm`Jr Ho$ H$maU ~§X H$s JB© nm°{bgr Ho$
nwZM©bZ H$m AW© h¡ ~r{_V ì`pŠV Am¡a/AWdm àñVmdH$ (`{X OrdZ ~r_m
{ZJ_ H$s àr{_`_ _m\$s AZwd¥{Õ H$m M`Z {H$`m h¡) H$s {Za§Va ~r_m`mo½`Vm
Ho$ {df` _| g§Vwï> hmoH$a, nm°{bgr Ho$ {Z`_/ eVm] Ho$ AZwgma g^r Xo`
àr{_`_ VWm AÝ` à^ma/{db§~ ewëH$, `{X H$moB© hmo, boH$a ~r_mboIZ
{ZU©` ~r_mH$Vm© Ûmam nm°{bgr XñVmdoO _| Cëbo{IV g^r {hVbm^m| Ho$ gmW
AZwd¥{Õ {hVbm^m|, `{X H$moB© hmo, Ho$ gmW `m dJ¡a, nm°{bgr H$mo {\$a go
~hmb H$aZm&
48. nZwMb
© Z Ad{Y nhbr AXÎm àr{_`_ H$s VmarI go nmM§ {ZaV§a df© H$s dh
Ad{Y h¡ {OgH$o Xma¡mZ nm{°bgrYmaH$ H$mo Cg nm{°bgr H$mo nZwM{©bV H$amZo H$m
A{YH$ma hmJom, Omo àr{_`_ AXm Z H$aZo H$o H$maU ~X§ H$a Xr JB© Wr&
49. AZwd¥{Õ dh A{V[aŠV gwajm h¡ {OgH$m M`Z _yb `moOZm Ho$ gmW {H$`m Om
gH$Vm h¡&
50. AZwd¥{Õ {hVbm^ H$m AW© {hVbm^ H$s dh am{e h¡ Omo AZwd¥{Õ Ho$ A§VJ©V
àXÎm KQ>Zm hmoZo na Xo` h¡ Am¡a `h _yb nm°{bgr Ho$ {hVbm^m| na A{V[aŠV
{hVbm^ Ho$ ê$n _| {X`m OmVm h¡&
51. AZwd¥{Õ àr{_`_, dh àr{_`_ h¡ Omo nm°{bgrYmaH$ Ûmam _yb nm°{bgr Ho$
àr{_`_ Ho$ gmW-gmW, AZwd¥{Õ Ho$ A§VJ©V MwZo JE {H$gr A{V[aŠV
gwajm/ {hVbm^ Ho$ {bE Xo` h¡&
52. AZwd¥{Õ ~r_m am{e dh {Z{üV YZam{e h¡ Omo MwZr JB© AZwd¥{Õ Ho$ A§VJ©V
gwa{jV KQ>Zm hmoZo na Xo` hmoVr h¡&
53. AZwgyMr nm°{bgr XñVmdoO H$m dh ^mJ h¡ {Og_| AmnH$s nm°{bgr Ho$ {deof
{ddaU h¢&
54. gmYmaU àË`mdVu ~moZg, dh A{Yeof/bm^ h¡ Omo {ZJ_ Ûmam ^mJrXma
nm°{b{g`m| Ho$ AZw^d Ho$ AmYma na àË`oH$ {dÎmr` df© Ho$ A§V _| Kmo{fV
{H$`m OmVm h¡ Am¡a {OgH$mo nm°{bgr _| {d{Z{X©ï> {Z`_ Am¡a eVm] Ho$ AZwgma
nm°{bgr Ho$ {hVbm^m| _| Omo‹S> {X`m OmVm h¡&
55. {ZnQ>mZ {dH$ën Bg nm°{bgr Ho$ ^mJ 'S>r' H$s eV© 9 _| {d{Z{X©ï> nm°{bgr Ho$
A§VJ©V dh {dH$ën h¡, {Og_| nm°{bgr {hVbm^ EH$_wíV àmá H$aZo Ho$
~Om`, nm°{bgrYmaH$/~r{_V ì`pŠV Ûmam MwZr JB© g_` Ad{Y Ho$ Xm¡amZ
{H$íVm| _| àmá {H$E OmVo h¢&
56. _¥Ë`w na ~r_m am{e, Bg nm°{bgr Ho$ {Z`_ Ed§ eVm] Ho$ AZwgma, ~r{_V
ì`pŠV H$s _¥Ë`w hmo OmZo na Xo` {Z{üV am{e dmbm {hVbm^ h¡&
57. n[an¹$Vm na ~r_m am{e dh am{e h¡ Omo nm°{bgr Ho$ {Z`_ Ed§ eVm] Ho$
AZwgma, nm°{bgr H$s n[anŠdVm na Xo` hmoZr {Z{üV h¡&
58. Aä`nU
© H$m AW© h¡ n[an¹$Vm go nhbo hr nayr nm{°bgr H$m nUy© AmhaU/g_mnZ&
59. Aä`n©U _yë` H$m AW© Cg am{e go h¡ Omo Bg nm°{bgr Ho$ {Z`_ Ed§ eVm] Ho$
AZwgma, Aä`n©U H$s pñW{V _| Xo` hmoVr h¡&
60. Hw$b AXm {H$`m J`m àr{_`_, {H$gr A{V[aŠV àr{_`_, AZwd¥{Õ àr{_`_
Am¡a H$am| H$mo N>mo‹S>H$a, àmá {H$E JE g^r àr{_`_m| H$m `moJ h¡&
61. gmaUr~Õ àr{_`_ {H$gr Nw>Q> `m A{V[aŠV bmoqS>J Ho$ à`moJ Ho$ {~Zm ~r{_V
ì`pŠV Ho$ Am`w na MwZr JB© _yb ~r_m am{e Ho$ {bE àr{_`_ h¡&
62. ~r_mboIZ dh nm[a^m{fH$ eãX h¡, {OgH$m à`moJ OmopI_ H$m {ZYm©aU H$aZo
Am¡a `h gw{Z{üV H$aZo Ho$ {bE {H$`m OmVm h¡ {H$ gwajm H$s bmJV g§~§{YV
ì`pŠV Ûmam CR>mE JE OmopI_ Ho$ g_mZwnmVr h¡& ~r_mboIZ Ho$ AmYma na,
Omo{I_ H$mo ñdrH¥$V `m AñdrH¥$V H$aZo H$m VWm C{MV àr{_`_ `m g§emo{YV
eVm], `{X H$moB© hm|, H$s à`moÁ`Vm na {ZU©` {b`m OmVm h¡&
63. `yAmB©EZ H$m AW© h¡ AmB©AmaS>rEAmB© Ûmam Bg `moOZm H$mo Amd§{Q>V AZÝ`
nhMmZ g§»`m&
64. {Z{hV ~moZg dh gmYmaU àË`mdVu ~moZg (`{X H$moB© hmo) {OgH$s KmofUm
nhbo hr H$a Xr JB© h¡ Am¡a Omo nm°{bgr go gå~Õ ahVm h¡&
LIC’s Jeevan Labh Page 7 of 20
44. Premium is the contractual amount payable by the
Policyholder at specified times periodically as mentioned in the
schedule of this Policy Document to secure the benefits under
the policy. The premium payable will be “Total Instalment
Premium” which includes
i. Instalment Premium for Base Policy and
ii. Instalment Premium for Rider(s) if Rider(s) has been
opted for.
The term ‘Premium’ used anywhere in this Policy Document
does not include any taxes which is payable separately.
45. Premium paying term means the period, in years, during
which premium is payable.
46. Proposer is a person who proposes the life insurance proposal.
47. Revival of a policy means restoration of the policy, which was
discontinued due to the non-payment of premium by the
insurer with all benefits mentioned in the policy document, with
or without rider benefits if any, upon the receipt of all the
premiums due and other charges or late fee, if any, as per the
terms and conditions of the policy, upon being satisfied as to
the Continued Insurability of the Life Assured and/or proposer
(if LIC’s Premium Waiver Benefit Rider is opted for).
48. Revival Period means the period of five consecutive years
from the date of first unpaid premium, during which period the
policyholder is entitled to revive the policy which was
discontinued due to the non-payment of premium.
49. Rider is an additional cover which can be opted for along with
base plan.
50. Rider Benefits means an amount of benefit payable on a
specified event offered under the rider and is allowed as add-
on benefit to benefit under Base Policy.
51. Rider Premium is the premium payable by the Policyholder
along with the premium under Base Policy towards the
additional cover/benefit opted under the rider, if opted.
52. Rider Sum Assured is the assured amount payable on
happening of a specified event covered under the rider, if
opted.
53. Schedule is the part of policy document that gives the specific
details of your policy.
54. Simple Reversionary Bonus is the surplus/profit declared at
the end of each financial year by the Corporation based on the
Corporation’s experience to the Participating policies and
added to the benefits under the policy as per terms and
conditions as specified in the policy document.
55. Settlement Option: Settlement Option, as specified in
Condition 9 of Part D of this Policy Document, is an option
available under this Policy, to receive Maturity Benefit in
instalments instead of lumpsum amount over a period chosen
by the Policyholder/ Life Assured.
56. Sum Assured on Death means an absolute amount of benefit
which is guaranteed to become payable on death of life
assured in accordance with the terms and conditions of the
policy.
57. Sum Assured on Maturity means the amount which is
guaranteed to become payable on maturity of the policy, in
accordance with the terms and conditions of the policy.
58. Surrender means complete withdrawal or termination of the
entire policy before expiry of policy term.
59. Surrender Value means an amount, if any, that becomes
payable in case of surrender in accordance with the terms and
condition of the policy.
60. Total Premiums paid means the total of all premiums received,
excluding any extra premium, any rider premium and taxes.
61. Tabular premium is the premium for the chosen Basic Sum
Assured, on the age of the Life Assured without application of any
rebate or extra loading.
62. Underwriting is the term used to describe the process of
assessing risk and ensuring that the cost of the cover is
proportionate to the risks faced by the individual concerned.
Based on underwriting, a decision on acceptance or rejection
of cover as well as applicability of suitable premium or modified
terms, if any, is taken.
63. UIN means the Unique Identification Number allotted to this
plan by the IRDAI.
64. Vested Bonus is the simple reversionary bonus, if any, which
has already been declared and remains attached to the policy.
Plan No.- 936
 ^mJ-'gr' : {hVbm^
1. EH$ Mmby nm°{bgr Ho$ A§VJ©V {ZåZ{bpIV {hVbm^ Xo` h¢:
H$. _Ë¥`w {hVbm^: n[an¹$Vm H$s {Z`V VmarI go ndy© ~r{_V ì`pŠV H$s _Ë¥`w
H$s pñW{V _| X`o _Ë¥`w {hVbm^, {Z{hV gmYmaU ~mZogm| H$o Ama¡ {H$gr
A{§V_ A{V[aŠV ~mZog H$o gmW ''_Ë¥`w na ~r_m am{e'' hmJom&
{Og_| {H$ ''_Ë¥`w na ~r_m am{e'' H$m,o _b y ~r_m am{e `m dm{fH©$ àr{_`_ H$o
7 JUwm _| Omo ^r A{YH$ hm,o H$o ê$n _| n[a^m{fV {H$`m J`m h&¡
_¥Ë`w {hVbm^, _¥Ë`w H$s VmarI VH$ AXm {H$E JE àr{_`_m| ({H$gr ^r
A{V[aŠV àr{_`_, AZwd¥{Õ àr{_`_ Am¡a H$am| H$mo N>mo‹S>H$a) Ho$ 105
à{VeV go H$_ Zht hmoJm&
_Ë¥`w {hVbm^ H$m ^JwVmZ Zm{_{V`m| H$mo nm{°bgrYmaH$/~r{_V ì`pŠV H$o M`Z
H$o AZg w ma D$na {d{Z{Xï©> VarH$o go Ama¡/AWdm {H$íVm| _| {H$`m OmEJm
Og ¡ m{H$, Bg nm{°bgr H$o ^mJ 'S>r' H$s eV© 8 _| {d{Z{Xï©> {H$`m J`m h&¡
I. n[an¹$Vm {hVbm^: n[an¹$Vm H$s VmarI VH$ ~r{_V ì`pŠV Ho$
Or{dV ahZo na `{X nm°{bgr Mmby h¡ Vmo {Z{hV gmYmaU àË`mdVu
~moZg Am¡a {H$gr A{V[aŠV ~moZg Ho$ gmW ''n[an¹$Vm na ~r_m
am{e'' Xo` hmoJr, {Og_| ''n[an¹$Vm na ~r_m am{e'', _yb ~r_m
am{e Ho$ g_mZ h¡&
nm°{bgrYmaH$/~r{_V ì`pŠV Ho$ nmg `h {dH$ën hmoJm {H$ dh
n[an¹$Vm {hVbm^ Cn`w©ŠV VarHo$ go EH$_wíV àmá H$a gH$Vm/
gH$Vr h¡ `m {H$íVm| _| ({ZnQ>mZ {dH$ën) O¡gm {H$ Bg nm°{bgr
XñVmdoO Ho$ ^mJ ''S>r'' H$s eV© 9 _| {d{Z{X©ï> h¡&
2. AZwd¥{Õ {hVbm^:
Bg nm°{bgr Ho$ A§VJ©V {ZåZ{bpIV nm§M AZwd¥{Õ {hVbm^ CnbãY h¢:
H$. Eb. AmB©. gr. H$s XþK©Q>ZmJV _¥Ë`w Ed§ An§JVm {hVbm^ AZwd¥{Õ
(`yAmB©EZ: 512B209V02)
I. Eb. AmB.© gr. H$s ZB© Ad{Y ~r_m AZdw{¥Õ (`A y mBE©Z: 512B210V01)
J. Eb. AmB.© gr. H$s XKþQ©>Zm {hVbm^ AZdw{¥Õ (`A y mBE©Z: 512B203V03)
K. Eb. AmB©. gr. H$s ZB© J§^ra amoJ {hVbm^ AZwd¥{Õ
(`yAmB©EZ: 512A212V01)
L. Eb. AmB©. gr. H$s àr{_`_ Ny>Q> {hVbm^ AZwd¥{Õ
(`yAmB©EZ: 512B204V03)
VWm{n, `mo½` ~r{_V ì`pŠV, Eb. AmB©. gr. H$s XþK©Q>ZmJV _¥Ë`w Ed§ An§JVm
AZwd¥{Õ Am¡a Eb. AmB©. gr. H$s XþK©Q>Zm {hVbm^ AZwd¥{Õ _| go EH$ H$m hr
M`Z H$a gH$Vm h¡&
Eb. AmB©. gr. H$s XþK©Q>ZmJV _¥Ë`w Ed§ An§JVm {hVbm^ AZwd¥{Õ/ XþK©Q>Zm
{hVbm^ AZwd¥{Õ: EH$ Mmby nm°{bgr Ho$ A§VJ©V, BZ XmoZm| _| go EH$
AZwd¥{Õ H$m M`Z,àr{_`_ ^wJVmZ Ad{Y Ho$ Xm¡amZ {H$gr ^r g_` {H$`m
Om gH$Vm h¡ ~eV} {H$ _yb nm°{bgr H$s eof àr{_`_ ^wJVmZ Ad{Y H$_ go
H$_ nm§M df© hmo& Ad`ñH$m| Ho$ OrdZ na Omar nm°{bgr Ho$ A§VJ©V, `h
AZwd¥{Õ {deof AZwamoY àmá hmoZo na, 18 df© H$s Am`w nyU© hmoZo Ho$ ~mX H$s
nm°{bgr df©Jm§R> go CnbãY hmoJr&
Eb. AmB©. gr. H$s àr{_`_ Ny>Q> {hVbm^ AZwd¥{Õ: EH$ Mmby nm°{bgr Ho$
A§VJ©V, nm°{bgr Ho$ àñVmdH$ Ho$ OrdZ na (Š`m|{H$ ~r{_V ì`pŠV Ad`ñH$
h¡) Bg AZwd¥{Õ H$m M`Z, nm°{bgr df©Jm§R> na {H$gr ^r g_` qH$Vw _yb
nm°{bgr Ho$ àr{_`_ Ho$ ^wJVmZ H$s Ad{Y Ho$ Xm¡amZ {H$`m Om gH$Vm h¡
~eV} {H$ _yb nm°{bgr Am¡a AZwd¥{Õ Ho$ àr{_`_ H$s ^wJVmZ Ad{Y H$_ go
H$_ nm§M df© eof hmo& gmW hr, Bg AZwd¥{Õ H$s AZw_{V Cg nm°{bgr Ho$
A§VJ©V Xr OmEJr, {OZ_| `h AZwd¥{Õ MwZZo Ho$ g_` ~r{_V ì`pŠV
Ad`ñH$ hmoJm& AZwd¥{Õ H$s Ad{Y, Bg AZwd¥{Õ Ho$ M`Z H$s {V{W na _yb
nm°{bgr Ho$ eof àr{_`_ ^wJVmZ H$s Ad{Y AWdm Bg AZwd¥{Õ Ho$ M`Z Ho$
g_` na ~r{_V Zm~m{bJ H$s Am`w 25 _| go KQ>mH$a AmZodmbr Ad{Y, XmoZm|
_| go Omo ^r H$_ hm|, dh hmoJr&
`{X Bg AZwd¥{Õ H$m M`Z {H$`m OmVm h¡ Vmo àñVmdH$ H$s _¥Ë`w H$s pñW{V
_|, _¥Ë`w H$s VmarI Ho$ ~mX AZwd¥{Õ Ad{Y g_má hmoZo VH$ Xo` hmoZo dmbo
_yb nm°{bgr go g§~§{YV àr{_`_m| Ho$ ^wJVmZ H$s Ny>Q> Xo Xr OmEJr& VWm{n,
Eogr pñW{V _| `{X _yb nm°{bgr Ho$ àr{_`_ ^wJVmZ H$s Ad{Y AZwd¥{Õ
Ad{Y go A{YH$ h¡ Vmo Bg àr{_`_ Ny>Q> {hVbm^ AZwd¥{Õ Ad{Y H$s g_m{á
H$s VmarI VH$ _yb nm°{bgr Ho$ A§VJ©V ^{dî` _| Xo` g^r àr{_`_m| H$m
^wJVmZ ~r{_V ì`pŠV H$mo H$aZm hmoJm& Eogo àr{_`_m| H$m ^wJVmZ Z H$aZo na
nm°{bgr, àXÎm nm°{bgr hmo OmEJr&
Eb. AmB©. gr. H$s ZB© Ad{Y ~r_m AZwd¥{Õ/ZB© J§^ra amoJ {hVbm^
AZwd¥{Õ: `o AZwd¥{Õ`m§ A{V[aŠV àr{_`_ Ho$ ^wJVmZ na Ho$db nm°{bgr Ho$
àma§^ _| hr CnbãY h¢&
`{X AZwd¥{Õ`m| H$m M`Z {H$`m OmVm h¡ Vmo CZH$s eV] Bg nm°{bgr Ho$
n¥ð>m§H$Z Ho$ ê$n _| g§b¾ h¢&
3. Zm~m{bJ Ho$ OrdZ na Omar nm°{bgr H$m {Z{hV hmoZm:
`{X ~r{_V ì`pŠV {Z{hV hmoZo H$s VmarI na Or{dV h¡ Am¡a nm°{bgr H$s
YZam{e`m| H$mo àmá H$aZo Ho$ A{YH$mar ì`pŠV go, {Z{hV hmoZo VH$ H$s
VmarI VH$ nm°{bgr Ho$ Aä`n©U H$m {bpIV AZwamoY {ZJ_ H$mo àmá Zht
hþAm h¡ Vmo {Z{hV hmoZo H$s Eogr VmarI H$mo `h nm°{bgr ñdV: ~r{_V ì`pŠV
_| {Z{hV hmo OmEJr&
LIC’s Jeevan Labh Page 8 of 20
PART – C : BENEFITS
1. The following benefits are payable under an in-force policy:
A. Death Benefit: Death benefit payable in case of death of
the Life Assured before the stipulated Date of Maturity
provided the policy is inforce, shall be “Sum Assured on
Death” along with vested Simple Reversionary Bonuses
and Final Additional Bonus, if any, . Where, “Sum Assured
on Death” is defined as higher of Basic Sum Assured or 7
times of Annualized Premium.
This Death Benefit shall not be less than 105% of the total
premiums paid (excluding any extra premium, any rider
premium and taxes) upto the date of death.
The Death Benefit shall be paid in lumpsum as specified
above and/or in instalments, as specified in condition 8 of
Part D of this Policy Document , as per the option exercised
by the Policyholder/ Life Assured.
B. Maturity Benefit: On Life Assured surviving the stipulated
Date of Maturity provided the policy is inforce, “Sum
Assured on Maturity” along with vested Simple
Reversionary Bonuses and Final Additional Bonus, if any,
shall be payable. Where “Sum Assured on Maturity” is
equal to Basic Sum Assured.
The Policyholder/Life Assured shall have an option to
receive the Maturity benefit in lumpsum as specified above
and/or in instalments (Settlement Option), as specified in
Condition 9 of Part D of this Policy Document.
2. Rider Benefits:
The following five riders are available under this policy:
A. LIC’s Accidental Death and Disability Benefit Rider (UIN:
512B209V02)
B. LIC’s New Term Assurance Rider (UIN 512B210V01)
C. LIC’s Accident Benefit Rider (UIN: 512B203V03)
D. LIC’s New Critical Illness Benefit Rider ( UIN 512A212V01)
E. LIC’s Premium Waiver Benefit Rider (UIN: 512B204V03)
However, the eligible Life Assured can opt between either of
the LIC’s Accidental Death and Disability Rider or LIC’s
Accident Benefit Rider.
LIC’s Accidental Death and Disability Benefit Rider / LIC’s
Accident Benefit Rider: Under an in-force policy either of
these riders can be opted for at any time within the premium
paying term of the Base Policy provided, the outstanding
premium paying term of the Base Policy is at least five years.
Under the policy on the life of minors, this rider will be available
from the policy anniversary following completion of age 18
years on receipt of specific request.
LIC’s Premium Waiver Benefit Rider: Under an inforce
policy, this Rider can be opted for on the life of proposer of
policy (as a Life Assured is minor) at any time coinciding with
the Policy Anniversary but within the premium paying term of
the Base policy provided, the outstanding premium paying
term of the Base Policy and rider is atleast five years. Further
this rider shall only be allowed under the policy wherein the Life
Assured is Minor at the time of opting this rider. The Rider term
shall be outstanding premium paying term of Base Policy as on
date of opting this rider or (25 minus age of the minor Life
Assured at the time of opting this rider), whichever is lower.
If the rider is opted for, on death of proposer, payment of
premiums in respect of Base Policy falling due after the date of
death till the expiry of Rider Term shall be waived. However, in
such case, if the Premium Paying Term of the Base Policy
exceeds the rider term, all the further premiums due under the
base policy from the date of expiry of this Premium Waiver
Benefit Rider term shall be payable by the Life Assured. On non-
payment of such premium the policy would become paid-up.
LIC’s New Term Assurance Rider/LIC’s New Critical Illness
Benefit Rider: These riders are available only at the inception
of the policy on payment of additional premium.
Conditions of rider(s), if opted, are enclosed as
endorsement to this policy.
3. Vesting of policy on the life of a minor :
If the Life Assured is alive on the Date of vesting and if a request
in writing for surrendering the policy has not been received by
Corporation before such Date of vesting from the person
entitled to the policy moneys, this policy shall automatically
vest in the Life Assured on such Date of vesting.
Plan No.- 936
4. bm^ _| à{V^mJr:
~eV} {H$ nm°{bgr Mmby hmo, {ZJ_ Ho$ AZw^d na {Z^©a H$aVo hþE, g_`-
g_` na g§emo{YV ^maVr` OrdZ ~r_m {ZJ_ A{Y{Z`_, 1956 Ho$ à`moÁ`
àmdYmZm| Ho$ AZwgma, nm°{bgr bm^m| H$s à{V^mJr hmoJr, Am¡a Eogr Xa Am¡a
Eogr eVm], O¡gr{H$ {ZJ_ Ûmam Kmo{fV H$s OmE§, na gmYmaU àË`mdVu ~moZg
H$s nmÌ hmoJr&
àË`oH$ {dÎmr` df© Ho$ A§V _| ha gmb gmYmaU àË`mdVu ~moZg H$s KmofUm
H$s OmEJr ~eV} {H$ nm°{bgr nyar Vah Mmby hmo& EH$ ~ma Kmo{fV {H$E OmZo
Ho$ ~mX, `o ~moZg, `moOZm Ho$ Jma§Q>rH¥$V {hVbm^m| H$m {hñgm ~Z OmE§Jo&
gmYmaU àË`mdVu ~moZg, nm°{bgr Ho$ àma§^ go boH$a MwZr JB© nm°{bgr VH$
`m _¥Ë`w VH$ (`{X _¥Ë`w nhbo hmo OmE) Omo‹S>m OmEJm&
`{X àr{_`_m| H$m naym ^JwVmZ Zht {H$`m J`m h¡ Vmo nm{°bgr ^{dî` H$o bm^m| H$o
à{V^mJr Zht ahJor, Mmho nm{°bgr Zo àXÎm _ëy` H$mo àmá H$a {b`m hmo `m Zht&
nm°{bgr Ho$ Aä`n©U H$s pñW{V _|, Aä`n©U H$s VmarI na bmJy {Z{hV
~moZgm| H$m Aä`©nUZ _yë`, Bg nm°{bgr XñVmdoO Ho$ ^mJ 'S>r' H$s eV© 4
Ho$ {d{ZX}e Ho$ AZwgma Xo` hmoJm&
A§{V_ àË`mdVu ~moZg H$s KmofUm ^r nm°{bgr Ho$ A§VJ©V Cg df© _| H$s Om
gH$Vr h¡ {Og_| _¥Ë`w AWdm n[an¹$Vm Ho$ H$maU nm°{bgr Xmdo _| n[ad{V©V
hmoVr h¡&
A§{V_ àË`mdVu ~moZg, àXÎm nm°{b{g`m| Ho$ A§VJ©V Xo` Zht hmoJm&
5. àr{_`_m| H$m ^wJVmZ:
H$. Bg nm°{bgr XñVmdoO H$s AZwgyMr Ho$ {d{ZX}e Ho$ AZwgma,
nm°{bgrYmaH$ H$mo g_`-g_` na bmJy H$am| g{hV, àr{_`_ H$m
^wJVmZ H$aZm hmoVm h¡&
I. {Og Mmby nm°{bgr Ho$ A§VJ©V, _¥Ë`w H$s VmarI VH$ Xo` g^r àr{_`_m|
H$m ^wJVmZ H$a {X`m J`m h¡ Am¡a {Og_| àr{_`_ ^wJVmZ H$m àUmbr
dm{f©H$ Ho$ Abmdm h¡, CgHo$ A§VJ©V ~r{_V ì`pŠV H$s _¥Ë`w H$s pñW{V
_|, _¥Ë`w H$s VmarI go AJbr nm°{bgr df©Jm§R> VH$ H$moB© àr{_`_ `{X
eof hmoJm, Vmo dh Xmdm am{e _| go H$mQ> {b`m OmEJm&
{ZJ_ Eogm H$moB© Zmo{Q>g Omar H$aZo Ho$ {bE ~mÜ` Zht h¡ {H$ àr{_`_ AWdm
am{e Xo` hmo JB© h¡&
6. AZwJ«h Ad{Y:
dm{fH©$ `m AY- © dm{fH©$ `m Ì_¡m{gH$ àr{_`_m| H$o ^JwVmZ H$o {bE nhbo AXÎm
àr{_`_ H$s VmarI go 30 {XZ Ama¡ _m{gH$ àr{_`_m| H$o ^JwVmZ H$o {bE 15
{XZ H$s AZJwh« Ad{Y H$s AZ_w{V Xr OmEJr& `{X AZJwh« H$o {XZ g_má hmZoo
go ndy© àr{_`_ H$m ^JwVmZ Zht {H$`m OmVm h¡ Vmo nm{°bgr H$mbmVrV hmo OmEJr&
`{X ~r{_V ì`pŠV H$s _¥Ë`w AZwJ«h-Ad{Y Ho$ Xm¡amZ qH$Vw Xo` àr{_`_ AXm
H$aZo go nyd© hmo OmVr h¡ Vmo nm°{bgr V~ ^r d¡Y ahoJr Am¡a Cn`w©ŠV AXÎm
àr{_`_ VWm _¥Ë`w H$s VmarI go AJbr nm°{bgr df©Jm§R> VH$ Xo` àr{_`_ Ho$
gmW {H$gr eof àr{_`_m| H$s am{e H$mQ>H$a, {hVbm^m| H$m ^wJVmZ {H$`m
OmEJm&
Cn`w©ŠV AZwJ«h Ad{Y CZ AZwd¥{Õ àr{_`_m| na ^r bmJy hmoJr, Omo _yb
~r_m nm°{bgr àr{_`_ Ho$ gmW hr Xo` hmoVo h¢&
^mJ - 'S>r' : godm nj go g§~§{YV eV]
1. Am`w H$m à_mU : My§{H$ àr{_`_m| H$s JUZm, àñVmd nÌ _| ~r{_V ì`pŠV H$s
Kmo{fV Am`w Ho$ AmYma na H$s JB© h¡, Bg{bE `{X Am`w Eogr Kmo{fV Am`w go
A{YH$ nmB© OmVr h¡ Vmo g_`-g_` na g§emo{YV ~r_m A{Y{Z`_, 1938
Ho$ A§VJ©V àmá A{YH$mam| Am¡a Cnm`m| g{hV, {ZJ_ Ho$ AÝ` A{YH$mam| VWm
Cnm`m| na H$moB© à{VHy$b à^md S>mbo {~Zm, àdoe Ho$ g_` H$s ghr Am`w Ho$
g_` nm°{bgr H$s pñW{V Ho$ AZwgma g§~§{YV ~r_m am{e na VWm AZwd¥{Õ
~r_m am{e (`{X H$moB© hmo) na JUZm H$s Xa go àr{_`_ Xo` hmoJm Am¡a
nm°{bgr àma§^ hmoZo go boH$a, Eogo ^wJVmZ H$s VmarI VH$ ghr Am`w Ho$
àr{_`_m| Am¡a _m¡{bH$ àr{_`_m| Ho$ g§{MV A§Va H$m ^wJVmZ {ZJ_ H$mo ã`mO
g{hV Cg Xa na Xo` hmoJm, {OgH$m {ZYm©aU {ZJ_ g_`-g_` na H$aoJm&
VWm{n, `{X ~r{_V ì`pŠV/ àñVmdH$ `hm§ {bpIV Xam| na àr{_`_m| H$m
^wJVmZ Omar aIVm h¡ Am¡a Cn`w©ŠV g§{MV F$U H$m ^wJVmZ Zht H$aVm h¡
Vmo nm°{bgr àma§^ hmoZo go nm°{bgr Ho$ Xmdo _| n[ad{V©V hmoZo VH$, R>rH$ Am`w
Ho$ àr{_`_m| Am¡a _m¡{bH$ àr{_`_m| H$m g§{MV A§Va, Eogo A§Va H$s àË`oH$
{H$íV na {ZJ_ Ûmam g_`-g_` na {Z`V Xa na ã`mO g{hV Cn{MV hmo
OmEJm, Omo Cg nm°{bgr na ~r{_V ì`pŠV/ àñVmdH$ Ûmam Xo` F$U _mZm
OmEJm Am¡a CgH$s am{e, nm°{bgr Ho$ Xmdo _| n[ad{V©V hmoZo na Xo` nm°{bgr
_wÐm _| go H$mQ> br OmEJr&
LIC’s Jeevan Labh Page 9 of 20
4. Participation in profits:
Provided the policy is in-force, depending upon the
Corporation’s experience the policy shall participate in profits
in accordance with the applicable provisions of LIC Act, 1956,
as amended from time to time and shall be eligible for a Simple
Reversionary Bonus at such rate and on such terms as may be
declared by the Corporation.
Simple Reversionary Bonuses shall be declared annually at
the end of each financial year provided the policy is inforce.
Once declared, they form part of the guaranteed benefit of the
plan. Simple reversionary Bonuses will be added from the date
of commencement of policy until the selected policy term or till
death, if it occurs earlier.
In case the premiums are not duly paid, the policy shall cease
to participate in future profits irrespective of whether or not the
policy has acquired paid up value.
In the event of policy being surrendered, the Surrender Value
of vested bonuses, if any, as applicable on the date of
surrender, will be payable as specified in Condition 4 of Part D
of this Policy Document.
Final Additional Bonus may also be declared under the policy in
the year when the policy results into a claim either by death or
maturity.
Final Additional Bonus shall not be payable under paid up
policies.
5. Payment of Premiums:
a. The policyholder has to pay the Premium on the due dates
as specified in the Schedule of this Policy Document
alongwith applicable taxes, if any from time to time.
b. In case of death of Life Assured under an in-force policy
wherein all the premiums due till the date of death have
been paid and where the mode of payment of premium
is other than yearly, balance premium(s), if any, falling
due from the date of death and before the next policy
anniversary shall be deducted from the claim amount.
The Corporation does not have any obligation to issue a notice
that premium is due or for the amount that is due.
6. Grace period:
A grace period of 30 days shall be allowed for payment of
yearly or half-yearly or quarterly premiums and 15 days for
monthly premiums from the date of First unpaid premium. If the
premium is not paid before the expiry of the days of grace, the
Policy lapses.
If the death of the Life Assured occurs within the grace period
but before the payment of the premium then due, the policy will
still be valid and the benefits shall be paid after deductions of
the said unpaid premium as also the balance premium (s), if
any, falling due from the date of death and before the next
policy anniversary.
The above grace period will also apply to rider premiums which
are payable along with premium for base policy.
PART – D:
CONDITIONS RELATED TO SERVICING ASPECTS
1. Proof of Age: The premiums having been calculated on the
age of the Life Assured as declared in the Proposal, in case the
age is found higher than such age, without prejudice to the
Corporation’s other rights and remedies, including those under
the Insurance Act, 1938, as amended from time to time the
premiums shall be payable in such case at the rate calculated
on the Basic Sum Assured and Rider(s) Sum Assured, if opted
for, for the correct age at entry, and the accumulated difference
between the premiums for the correct age and the original
premiums, from the commencement of the Policy upto the date
of such payment shall be paid to the Corporation with interest
at such rate as fixed by the Corporation from time to time.
However, in case the Life Assured/Proposer continues to pay
the premiums at the rates shown herein, and also does not pay
the above mentioned accumulated debt, the accumulated
difference between the premiums for the correct age and the
original premiums from the commencement of this Policy up to
the date on which the Policy becomes a claim, with interest on
each instalment of such difference at such rate as may be fixed
by the Corporation from time to time, shall accrue and be
treated as a debt due by the Life Assured / Proposer against the
said Policy and shall be deducted from the Policy moneys
payable on the Policy becoming a claim.
Plan No.- 936
 BgH$o A{V[aŠV `h ^r eV© h¡ {H$ `{X àdeo H$o g_` ~r{_V ì`pŠV H$s ghr
Am`w Eg o r h¡ {Oggo {H$ Cn`Š©wV AZg w Myr _| {d{Z{Xï©> dJ© `m ~r_m eVm] H$o
AV§JV© ~r_o H$o A`m½o` hmo OmVm Vmo dJ© Ama¡ ~r_m g~§Y§r eV] n[ad{VV© hmHo$a,
~r_o H$s Eg o r `mOo Zm hmo OmEJ§r, Og
¡ m{H$ Bg nm{°bgr H$o àma^§ H$o g_` Mmby
à{H$«`m H$o AZg w ma {ZJ_ Ûmam àXmZ H$s OmVr h¢ Ama¡ Eg o m nm{°bgrYmaH$ H$s
gh_{V go {H$`m OmEJm AÝ`Wm nm{°bgr {ZañV H$a Xr OmEJr&
2. OãVr Am¡a J¡a-OãVr {d{Z`_:
2. Forfeiture and Non-forfeiture Regulations:
OãVr {d{Z`_:
i. gr{_V àr{_`_ ^wJVmZ nm°{b{g`m| Ho$ _m_bo _|, `{X Bg nm°{bgr Ho$
{bE Xmo df© go H$_ H$m àr{_`_ AXm {H$`m J`m h¡ Am¡a CgHo$ ~mX Xo`
H$moB© àr{_`_ AXm Zht {H$`m J`m h¡ Vmo Ny>Q> H$s Ad{Y g_má hmoZo Ho$
nümV nhbo AXÎm àr{_`_ H$s VmarI go g^r {hVbm^ g_má hmo
OmE§Jo Am¡a Hw$N> ^r Xo` Zht hmoJm VWm V~ VH$ AXm {H$E JE àr{_`_
^r dmngr`mo½` Zht hm|Jo&
ii. Hw$N> AÝ` pñW{V`m| _| OãVr: `{X `hm§ {Z{hV AWdm n¥ð>m§{H$V {H$gr
eV© H$m C„§KZ hmoVm h¡ AWdm `{X Eogm nm`m OmVm h¡ {H$ àñVmd nÌ
_|, ì`pŠVJV ~`mZ/H$WZ _|, KmofUm Am¡a g§~§{YV XñVmdoOm| _| H$moB©
AgË` AWdm JbV ~`mZ {Z{hV h¡ `m H$moB© _hËdnyU© gyMZm {N>nmB©
JB© h¡ Vmo V~ Am¡a Eogo àË`oH$ _m_bo _| `h nm°{bgr ^§J hmo OmEJr
Am¡a Bg H$maU go, {H$gr ^r {hVbm^ Ho$ Xmdm| na, g_`-g_` na
g§emo{YV ~r_m A{Y{Z`_, 1938 H$s Ymam 45 Ho$ àmdYmZ bmJy hm|Jo&
J¡a-OãVr {d{Z`_:
`{X H$_ go H$_ Xmo dfm] H$m nyU© àr{_`_ AXm H$a {X`m J`m h¡ Am¡a
CgHo$ nümV Ho$ àr{_`_ AXm Zht {H$E JE h¢ Vmo `h nm°{bgr nyar
Vah eyÝ` Zht hmoJr ~pëH$ EH$ àXÎm nm°{bgr Ho$ ê$n _| ~Zr ahoJr&
àXÎm nm°{bgr Ho$ A§VJ©V _¥Ë`w na ~r_m am{e KQ> H$a Eogr am{e ah
OmEJr, {Ogo _¥Ë`w àXÎm ~r_m am{e H$hm OmVm h¡ Am¡a `h am{e, _yb
ê$n go Xo` àr{_`_ ^wJVmZ H$s A{YH$V_ Ad{Y Am¡a nhbo go hr
^wJVmZ H$a {XE JE àr{_`_ H$s Hw$b Ad{Y Ho$ AZwnmV go, _¥Ë`w na
~r_m am{e H$mo JwUm H$aHo$ AmB© am{e Ho$ g_mZ hmoJr& _¥Ë`w àXÎm ~r_m
am{e Ho$ A{V[aŠV, `{X H$moB© gmYmaU àË`mdVu ~moZg {Z{hV hmoJm,
CgH$m ^wJVmZ ^r _¥Ë`w na Xo` hmoJm&
àXÎm nm°{bgr Ho$ A§VJ©V n[an¹$Vm na ~r_m am{e KQ>H$a Eogr am{e ah
OmEJr {Ogo ''n[an¹$Vm àXÎm ~r_m am{e'' H$hm OmVm h¡ Am¡a `h
am{e, _yb ê$n go Xo` àr{_`_ ^wJVmZ H$s A{YH$V_ Ad{Y Am¡a
nhbo go hr ^wJVmZ H$a {XE JE àr{_`_ H$s Hw$b Ad{Y Ho$ AZwnmV
go, n[an¹$Vm na ~r_m am{e H$mo JwUm H$aHo$ AmB© am{e Ho$ g_mZ hmoJr&
n[an¹$Vm àXÎm ~r_m am{e Ho$ A{V[aŠV `{X H$moB© gmYmaU àË`mdVu
~moZg {Z{hV hmoJm, dh ^r n[an¹$Vm na Xo` hmoJm&
àXÎm nm°{bgr ^{dî` Ho$ bm^ H$s ^mJrXmar Ho$ {bE J«mø Zht hmoJr&
VWm{n, `{X H$moB© {Z{hV gmYmaU àË`mdVu ~moZg hmoJm Vmo dh KQ>r
hþB© àXÎm nm°{bgr go gå~Õ ahoJm&
D$na Mmho Hw$N> ^r C„oI {H$`m J`m hmo, `{X Bg nm°{bgr Ho$ g§~§Y _|
3 nyU© dfm] H$m àr{_`_ AXm H$a {X`m J`m h¡ Am¡a CgHo$ ~mX Ho$
àr{_`_m| H$m {d{YdV² ^wJVmZ Zht hþAm h¡ Vmo nhbo AXÎm àr{_`_ H$s
Xo` VmarI go N>h _hrZo Ho$ A§Xa ~r{_V ì`pŠV H$s _¥Ë`w hmoZo H$s
pñW{V _|, (H$) _yb ~r_m nm°{bgr Ho$ {bE _¥Ë`w H$s VmarI VH$ Eogr
Ad{Y Ho$ Xm¡amZ nm°{bgr Ho$ nwZM©bZ Ho$ g_mZ eVm] na, ã`mO g{hV
AXÎm àr{_`_; Am¡a (I) _¥Ë`w H$s VmarI go Am¡a AJbr nm°{bgr
df©Jm§R> go nyd© _yb nm°{bgr na Xo` hmoZo dmbo eof àr{_`_m| H$mo
H$mQ>H$a ''_¥Ë`w na ~r_m am{e'' H$m ^wJVmZ {H$`m OmEJm& `h àmdYmZ
AmË_hË`m go hþB© _¥Ë`w H$s pñW{V _| bmJy Zht hmoJm&
D$na Mmho Hw$N> ^r C„oI {H$`m J`m hmo, `{X Bg nm°{bgr Ho$ g§~§Y _|
H$_ go H$_ nm§M nyU© dfm] Ho$ àr{_`_ H$m ^wJVmZ hmo J`m h¡ Am¡a
CgHo$ ~mX Ho$ àr{_`_m| H$m {d{YdV² ^wJVmZ Zht {H$`m J`m h¡ Vmo
nhbo AXÎm àr{_`_ H$s Xo` VmarI go 12 _mh Ho$ A§Xa ~r{_V
ì`pŠV H$s _¥Ë`w hmoZo H$s pñW{V _| (H$) _yb ~r_m nm°{bgr Ho$ {bE
_¥Ë`w H$s VmarI VH$ Eogr Ad{Y Ho$ {bE nm°{bgr Ho$ nwZM©bZ Ho$
g_mZ eVm] na, ã`mO g{hV AXÎm àr{_`_; Am¡a (I) _¥Ë`w H$s
VmarI go Am¡a AJbr nm°{bgr df©Jm§R> go nyd© _yb nm°{bgr na Xo` hmoZo
dmbo àr{_`_m| H$mo H$mQ>H$a ''_¥Ë`w na ~r_m am{e'' H$m ^wJVmZ, {Z{hV
gmYmaU àË`mdVu ~moZg Am¡a A{V[aŠV ~moZg (`{X H$moB© hmo) Ho$
gmW {H$`m OmEJm& `h àmdYmZ AmË_hË`m go hþB© _¥Ë`w H$s pñW{V _|
bmJy Zht hmoJm&
Cn`w©ŠV J¡a-OãVr {d{Z`_ AZwd¥{Õ`m| na bmJy Zht hmoJ|, Š`m|{H$
AZwd¥{Õ`m§ H$moB© àXÎm _yë` A{O©V Zht H$aVr& `{X nm°{bgr H$mbmVrV
AdñWm _| h¡ Vmo AZwd¥{Õ`m§ bmJy Zht ahVr&
LIC’s Jeevan Labh Page 10 of 20
Provided further that if the Life Assured’s correct age at entry is
such as would have made him/her uninsurable under the class
or terms of assurance specified in the said Schedule hereto,
the class or terms shall stand altered to such Plan of Assurance
as are granted by the Corporation according to the practice in
force at the commencement of this policy subject to the
consent of the Policyholder, otherwise the policy will be
cancelled.
Forfeiture Regulations:
i. If less than two years’ premiums have been paid in respect
of this policy and any subsequent premium be not duly
paid, all the benefits under this policy shall cease after the
expiry of grace period from the date of first unpaid premium
and nothing shall be payable, and the Premiums paid
thither to are also not refundable.
ii. Forfeiture in Certain Other Events: In case any condition
herein contained or endorsed hereon be contravened or in
case it is found that any untrue or incorrect statement is
contained in the proposal, personal statement, declaration
and connected documents or any material information is
withheld, then and in every such case this policy shall be
void and all claims to any benefit in virtue of this policy
shall be subject to the provisions of Section 45 of the
Insurance Act, 1938, as amended from time to time.
Non-forfeiture Regulations:
If after atleast two full years’ premiums have been paid and
any subsequent premiums be not duly paid, this policy shall
not be wholly void, but shall subsist as a paid-up policy till
the end of policy term.
The Sum Assured on Death under a paid-up policy shall be
reduced to such a sum, called ‘Death Paid-up Sum
Assured’ and shall be equal to Sum Assured on Death
multiplied by the ratio of the total period for which premiums
have already been paid bears to the maximum period for
which premiums were originally payable. In addition to the
Death Paid-up Sum Assured, the vested Simple
Reversionary Bonus, if any shall also be payable on death.
The Sum Assured on Maturity under a paid-up policy shall
be reduced to such a sum called ‘Maturity Paid-up Sum
Assured’ and shall be equal to Sum Assured on Maturity
multiplied by the ratio of the total period for which premiums
have already been paid bears to the maximum period for
which premiums were originally payable. In addition to the
Maturity Paid-up Sum Assured, the vested Simple
Reversionary Bonus, if any shall also be payable on
maturity.
A paid-up policy shall not be entitled to participate in future
profits. However, the vested Simple Reversionary
bonuses, if any, will remain attached to the reduced paid-up
policy.
Notwithstanding what is stated above, if atleast 3 full years’
premiums have been paid in respect of this policy, and any
subsequent premium be not duly paid, in the event of the
death of the Life Assured within six months from the due
date of first unpaid premium, “Sum Assured on Death”
along with vested simple reversionary bonuses, and Final
Additional Bonuses, if any, will be paid after deduction of (a)
the unpaid premium(s) for the base policy with interest
thereon upto the date of death, on the same terms as for
revival of the Policy during such period and (b) the balance
premium(s) for the base policy falling due from the date of
death and before the next policy anniversary. This
provision shall not apply in case of death due to Suicide.
Notwithstanding what is stated above, if at least 5 full years'
premiums have been paid in respect of this policy, and any
subsequent premium be not duly paid, in the event of death
of the Life Assured within 12 months from the first unpaid
premium, “Sum Assured on Death” along with vested
Simple Reversionary Bonuses and Final Additional Bonus,
if any, will be paid after deduction of (a) the unpaid
premium(s) for the base policy with interest thereon upto
the date of death, on the same terms as for revival of the
Policy during such period and (b) the balance premium(s)
for the base policy falling due from the date of death and
before the next policy anniversary. This provision shall not
apply in case of death due to Suicide.
All of the above mentioned Non-Forfeiture Regulations do
not apply to Riders as the riders do not acquire any paid-up
value. The Rider Benefits cease to apply, if the policy is in
lapsed condition.
Plan No.- 936
3. H$mbmVrV nm°{b{g`m| H$m nwZM©bZ: Ny>Q> H$s Ad{Y Ho$ A§Xa Xo` àr{_`_ H$m
^wJVmZ Z {H$E OmZo na ~r_m nm°{bgr H$mbmVrV hmo OmEJr& H$mbmVrV
AdñWm dmbr nm°{bgr H$mo ~r{_V ì`pŠV Ho$ OrdZH$mb _| qH$Vw, `WmpñW{V,
nwZM©bZ Ad{Y Ho$ Xm¡amZ n[an¹$Vm H$s VmarI go nhbo nwZM©{bV {H$`m Om
gH$Vm h¡& àr{_`_m| H$s gmar ~H$m`m am{e`m| H$m ^wJVmZ, g_`-g_` na
{ZJ_ Ûmam V` ã`mO Xa na ã`mO g{hV (AY- © dm{fH©$ g`§mO
o Z H$o gmW) H$aZo
na Ama¡ nm{°bgrYmaH$/ ~r{_V ì`pŠV/ àñVmdH$ Ûmam, nZwMb © Z H$o g_`
{ZJ_ H$s ~r_mbI o Z Zr{V H$o AZg w ma nhbo go CnbãY gMyZm, XñVmdO o m| Ama¡
[anmQo>m] H$o AmYma na Ama¡ Bg {df` _| _mJ§r JB© {H$gr A{V[aŠV gMyZm H$o
AmYma na ~r{_V ì`pŠV Ama¡/AWdm àñVmdH$ (`{X OrdZ ~r_m {ZJ_ H$s
àr{_`_ N>yQ> {hVbm^ AZdw{¥Õ MZwr JB© h)¡ H$s {ZaV§a ~r_m`m½o`Vm H$o {df` _|
gV§ïw> hmZoo na, nZwMb© Z bmJy {H$`m OmEJm&
VWm{n, {H$gr ~X§ nm{°bgr H$o nZwMb © Z H$mo _by eVm] na ñdrH$ma H$aZ,o
ge§m{oYV eVm] na ñdrH$ma H$aZo `m AñdrH$ma H$aZo H$m A{YH$ma {ZJ_ H$o nmg
gaw{jV h&¡ g_má nm{°bgr H$m nZwMb © Z V^r bmJy hmJom O~ {ZJ_ BgH$m
AZ_wmXoZ H$a XJom, Bgo ñdrH$ma H$aJom Ama¡ nZwMb
© Z agrX Omar H$a Xr OmEJr&
`{X AZwd¥{Õ (`m|) H$m M`Z {H$`m J`m h¡ Vmo CgHo$/CZHo$ nwZM©bZ na _yb
nm°{bgr Ho$ nwZM©bZ Ho$ gmW hr {dMma {H$`m OmEJm, AbJ go Zht&
4. Aä`n©U: nm°{bgrYmaH$ Ûmam nm°{bgr Ad{Y Ho$ Xm¡amZ {H$gr ^r g_`
Aä`{n©V {H$`m Om gH$Vm h¡ ~eV} {H$ Xmo nyU© dfm] Ho$ àr{_`_ AXm H$a {XE
JE hm|& nm°{bgr Ho$ Aä`n©U na, Jma§Q>rH¥$V Aä`n©U _yë` Am¡a {deof
Aä`n©U _yë` _| go Omo A{YH$ hmoJm, CgHo$ ~am~a Aä`n©U _yë` {ZJ_ Ûmam
AXm {H$`m OmEJm&
{defo Aä`nU© _ëy` H$m nZwamdbmHo$Z {H$`m Om gH$Vm h¡ {OgH$m {ZYma©U
{ZJ_ Ûmam g_`-g_` na AmBA © maS>rEAmB© H$o AZ_wmXoZ H$o AYrZ {H$`m OmEJm&
nm°{bgr Ad{Y Ho$ Xm¡amZ Xo` Jma§Q>rH¥$V Aä`n©U _yë`, AXm {H$E JE Hw$b
àr{_`_m| ({H$gr A{V[aŠV àr{_`_ MwZr JB© AZwd¥{Õ`m| Ho$ àr{_`_ Am¡a
H$am| H$mo N>mo‹S>H$a) H$mo, nm°{bgr Ho$ A§VJ©V AXm {H$E JE Hw$b àr{_`_m| na
bmJy Jma§Q>rH¥$V Aä`n©U _yë` JwUH$ go JwUm H$a Ho$ àmá am{e Ho$ ~am~a
hmoJm& à{VeV Ho$ ê$n _| A{^ì`ŠV `h Jma§Q>rH¥$V Aä`n©U _yë` JwUH$
nm°{bgr Ad{Y Am¡a nm°{bgr Aä`{n©V H$aZo Ho$ nm°{bgr df© na {Z^©a H$aVo
h¢, Omo Bg nm°{bgr XñVmdoO Ho$ n[a{eï>-4 _| {XE JE h¢&
BgHo$ A{V[aŠV, `{X {Z{hV gmYmaU àË`mdVu ~moZg H$s H$moB© am{e h¡ Vmo
dh ^r Xo` hmoJr Omo {H$ {Z{hV ~moZg H$mo, {Z{hV ~moZg na bmJy Jma§Q>rH¥$V
Aä`n©U _yë` JwUH$ go JwUm H$aHo$ Am`r am{e Ho$ g_mZ hmoJm& `h Jma§Q>rH¥$V
Aä`n©U _yë` JwUH$ nm°{bgr Ad{Y na Am¡a nm°{bgr Aä`n©U H$aZo Ho$ df©
na {Z^©a hm|Jo Am¡a `h Bg nm°{bgr XñVmdoO Ho$ n[a{eï> - 5 _| {XE JE h¢&
`{X H$moB© AZwd¥{Õ (AZwd¥{Õ`m§) h¡ Vmo CZ na H$moB© Aä`n©U _yë` CnbãY
Zht hmoJm&
5. nm°{bgr na F$U: Bg nm°{bgr Ho$ A§VJ©V, {ZåZ{bpIV {Z`_/eVm] Ho$
AYrZ, nm°{bgr Ho$ Aä`n©U _yë` VH$ H$m F$U CZ am{e`m| Ho$ {bE Am¡a
Eogr AÝ` eVm] na CnbãY hmoJm, Omo g_`-g_` na {ZJ_ Ûmam V` H$s
OmE§Jr:
i. Xmo nyU© dfm] Ho$ àr{_`_m| H$m ^wJVmZ H$a XoZo na F$U {b`m Om
gH$Vm h¡&
ii. {X`m Om gH$Zo dmbm A{YH$V_ F$U, {ZåZmZwgma hmoJm:
A. Mmby nm°{b{g`m| Ho$ {bE - Aä`n©U _yë` Ho$ 90 à{VeV VH$
Am. àXÎm nm°{b{g`m| Ho$ {bE - Aä`n©U _yë` Ho$ 80 à{VeV VH$
iii. àñVmdH$ Ûmam ~r{_V ì`pŠV H$s Zm~m{bJr Ho$ Xm¡amZ F$U {b`m Om
gH$Vm h¡, ~eV} {H$ F$U Zm~m{bJ ~r{_V ì`pŠV Ho$ H$ë`mU Ho$
{bE {b`m Om ahm hmo&
iv. nm°{bgr H$m nyU© g_ZwXoeZ {ZJ_ Ho$ nj _| {H$`m OmEJm Am¡a {ZJ_
nm°{bgr H$mo, F$U Am¡a CgHo$ ã`mO H$mo dmngr Ho$ {bE à{V^y{V Ho$
ê$n _| AnZo nmg aIoJm&
v. Bg nm°{bgr Ho$ A§VJ©V F$U boZo Ho$ g_` {ZJ_ Ûmam {d{Z{X©ï> H$s
OmZo dmbr Xa go, F$U na {ZJ_ H$mo ã`mO H$m ^wJVmZ AY©-dm{f©H$
MH«$d¥{Õ Ho$ AmYma na {H$`m OmEJm& bmJy hmoZo dmbr ã`mO Xa
AmB©AmaS>rEAmB© Ûmam AZw_mo{XV {d{Y na AmYm[aV hmoJr& ã`mO H$m
nhbm ^wJVmZ AJbr nm°{bgr df©Jm§R> go nyd© `m AJbr nm°{bgr
df©Jm§R> go N>h _hrZo nhbo H$s VmarI na (F$U-ñdrH¥${V H$s
VmarI Ho$ Vwa§V ~mX, BZ_| go Omo ^r nhbo hmo) {H$`m OmZm h¡ Am¡a
CgHo$ ~mX àË`oH$ AmYo df© na {H$`m OmZm h¡&
vi. `hm§ D$na C{„pIV Xo` VmarIm| na F$U na ã`mO Ho$ ^wJVmZ _|
MyH$ hmoZo H$s pñW{V _| `{X ~H$m`m F$U Am¡a ã`mO Aä`n©U _yë`
go A{YH$ hmo OmVm h¡ Vmo {ZJ_ Eogr nm°{b{g`m| H$m nyd©-g_mnZ
H$aZo H$m hH$Xma hmoJm& nyd©-g_mnZ H$s OmZo dmbr Eogr nm°{b{g`m§,
Aä`n©U _yë` Am¡a ã`mO g{hV F$U H$s ~H$m`m am{e Ho$ A§Va Ho$
^wJVmZ H$s hH$Xma hm|Jr&
LIC’s Jeevan Labh Page 11 of 20
3. Revival of lapsed Policies: An Insurance Policy would lapse
on non payment of due premium within the days of grace.
A policy in lapsed condition may be revived during the life time
of the Life Assured, but within the Revival period and before the
Date of Maturity, as the case may be. The revival shall be
effected on payment of all the arrears of premium(s) together
with interest (compounding half yearly) at such rate as may be
fixed by the Corporation from time to time and on satisfaction
of Continued Insurability of the Life Assured and/or Proposer (if
LIC’s Premium Waiver Benefit Rider is opted for) on the basis
of information, documents and reports that are already
available and any additional information in this regard if and as
may be required in accordance with the Underwriting Policy of
the Corporation at the time of revival, being furnished by the
Policyholder/Life Assured/Proposer.
The Corporation however, reserves the right to accept at
original terms, accept with modified terms or decline the revival
of a discontinued policy. The revival of the discontinued policy
shall take effect only after the same is approved, accepted and
revival receipt is issued by the Corporation.
Revival of Rider(s), if opted for, will only be considered along
with the revival of the base policy and not in isolation.
4. Surrender: The policy can be surrendered by the policyholder
at any time during the policy term provided two full years’
premiums have been paid. On surrender of the policy, the
Corporation shall pay the Surrender Value equal to higher of
Guaranteed Surrender Value and Special Surrender Value.
The Special Surrender Value is reviewable and shall be
determined by the Corporation from time to time subject to prior
approval of IRDAI.
The Guaranteed Surrender Value payable during the policy
term shall be equal to the total premiums paid (excluding any
extra premium, any premiums for rider(s), if opted for and
taxes), multiplied by the Guaranteed Surrender Value factor
applicable to total premiums paid. These Guaranteed Surrender
Value factors expressed as percentages will depend on the
policy term and policy year in which the policy is surrendered and
are contained in Annexure – 4 of this Policy Document.
In addition, the surrender value of vested simple reversionary
bonuses, if any, shall also be payable, which is equal to vested
bonuses multiplied by the Guaranteed Surrender Value factor
applicable to vested bonuses. These Guaranteed surrender
value factors will depend on the policy term and the policy year
in which policy is surrendered and are contained in Annexure –
5 of this Policy Document.
No surrender value will be available on Rider(s), if any.
5. Policy Loan: Loan shall be available under the Policy subject
to the following terms and conditions, within the surrender
value of the policy for such amounts and on such further terms
and conditions as the Corporation may fix from time to time:
i) Loan can be availed provided atleast two full years’
premiums have been paid.
ii) The maximum Loan that can be granted shall be as under:
a. For in-force policies : upto 90% of Surrender Value
b. For paid-up policies : upto 80% of Surrender Value
iii) The loan during the minority of Life Assured can be availed
by the Proposer provided the loan is raised for the benefit of
the minor Life Assured.
iv) The Policy shall be assigned absolutely to and held by the
Corporation as security for the repayment of Loan and of
the interest thereon.
v) Interest on Loan shall be paid on compounding half-yearly
basis to the Corporation at the rate to be specified by the
Corporation at the time of taking loan under this policy. The
applicable interest rate shall be based on the method
approved by IRDAI. The first payment of interest is to be
made on the next Policy anniversary or on the date six
months before the next Policy anniversary whichever
immediately follows the date on which the Loan is
sanctioned and every half year thereafter.
vi) In the event of default in payment of loan interest on the due
dates as mentioned herein above, and when the
outstanding loan along with interest is to exceed the
surrender value, the Corporation would be entitled to
foreclose such policies. Such policies when being
foreclosed shall be entitled to payment of the difference of
surrender value and the loan outstanding amount along
with interest, if any.
Plan No.- 936
 vii.`{X nm°{bgr n[an¹$ hmo OmVr h¡ `m Aä`{n©V H$a Xr OmVr h¡ `m
_¥Ë`w Ho$ H$maU Xmdo _| n[ad{V©V hmo OmVr h¡ Vmo {ZJ_, nm°{bgr H$s
am{e _| go ~H$m`m F$U H$s am{e ã`mO g{hV H$mQ>Zo H$m A{YH$mar
hmoJm&
viii. {ZJ_, VrZ _hrZo H$m Zmo{Q>g XoH$a, F$U H$s am{e Cg na Xo`
g_ñV ã`mO g{hV dgyb H$aZo `m dmng _m§JZo H$m A{YH$mar h¡&
6. nm°{bgr H$m g_mnZ:
{ZåZ{bpIV _| go g~go nhbo H$moB© ^r pñW{V K{Q>V hmoZo na, nm°{bgr
Vwa§V Am¡a ñdV: hr g_má hmo OmEJr :
H$) dh VmarI, {Og na _¥Ë`w {hVbm^ H$m EH$_wíV ^wJVmZ/A§{V_
{H$íV H$m ^wJVmZ {H$`m J`m hmo; `m
I) {Og VmarI na nm°{bgr Ho$ A§VJ©V Aä`n©U {hVbm^m| H$m {ZnQ>mZ
{H$`m J`m hmo; `m
J) `{X {ZnQ>mZ H$m {dH$ën Zht MwZm J`m h¡ Vmo n[an¹$Vm H$s VmarI;
`m
K) {ZnQ>mZ {dH$ën Ho$ A§VJ©V A§{V_ {H$íVm| Ho$ ^wJVmZ na; `m
S>.) Bg nm°{bgr XñVmdoO Ho$ ^mJ-"S>r' H$s eV© 5 Ho$ C„oI Ho$
AZwgma F$U Ho$ ã`mO Ho$ ^wJVmZ _| MyH$ hmoZo H$s pñW{V _|; `m
M) `{X nm°{bgr H$m nwZM©bZ Zht H$am`m J`m h¡ Am¡a nm°{bgr H$mo
àXÎm nm°{bgr _| n[ad{V©V Zht {H$`m J`m h¡ Vmo nwZM©bZ Ad{Y
g_má hmoZo na; `m
N>) {Z:ewëH$ AdbmoH$Z {ZañVrH$aU H$s am{e H$m ^wJVmZ hmo OmZo na&
O) nm°{bgr XñVmdoO Ho$ ^mJ S>r Ho$ eVª 2.(ii) _| {d{Z{X©ï> OãVr H$s
pñW{V _|&
7. {Z:ewëH$ AdbmoH$Z Ad{Y:
`{X nm°{bgrYmaH$ nm°{bgr Ho$ {Z`_ Ed§ eVm] go g§Vwï> Zht h¡ Vmo
nm°{bgrYmaH$ Ûmam nm°{bgr XñVmdoO àmá H$aZo H$s VmarI go 15 {XZ H$s
{Z:ewëH$ AdbmoH$Z Ad{Y Ho$ Xm¡amZ dh Amn{Îm`m| H$m H$maU ~VmVo hþE
nm°{bgr {ZJ_ H$mo bm¡Q>m gH$Vm h¡ & nm°{bgr àmá hmoZo na, {ZJ_ nm°{bgr H$mo
{ZañV H$a XoJm Am¡a gwajm Ad{Y Ho$ {bE g_mZwnmVr OmopI_ àr{_`_ (_yb
nm°{bgr Ho$ {bE Am¡a AZw~¥{Õ H$m M`Z {H$`m J`m h¡ Vmo CgHo$ {bE) VWm
{M{H$Ëgm Om§M, {deof [anmoQ>m] Am¡a ñQ>m§n ewëH$ Ho$ à^ma H$mQ>H$a O_m {H$E
JE àr{_`_ H$s am{e bm¡Q>m XoJm &
8. _¥Ë`w {hVbm^ {H$íVm| _| boZo H$m {dH$ën:
`h {dH$ën Mmby nm°{bgr Am¡a àXÎm XmoZm| nm°{b{g`m| Ho$ A§VJ©V, _¥Ë`w
{hVbm^m| H$mo EH$_wíV boZo H$s ~Om` 5 `m 10 `m 15 df© H$s MwZr JB©
Ad{Y _| {H$íVm| _| boZo H$m {dH$ën h¡ & nm°{bgr Ho$ A§VJ©V Xo` nyU© `m
Am§{eH$ _¥Ë`w {hVbm^m| Ho$ {bE nm°{bgrYmaH$ Ûmam ~r{_V ì`pŠV H$s
Zm~m{bJr Ho$ Xm¡amZ AWdm 18 df© Am¡a Cggo A{YH$ Ho$ ~r{_V ì`pŠV Ûmam
AnZo OrdZH$mb _| Bg {dH$ën H$m M`Z {H$`m Om gH$Vm h¡ &
nm°{bgrYmaH$/ ~r{_V ì`pŠV Ûmam MwZr JB© am{e (AWm©V {Zdb Xmdm am{e)
`m Vmo gw{Z{üV _yë` Ho$ ê$n _| hmo gH$Vr h¡ AWdm Hw$b Xo` Xmdm àm{á`m| Ho$
Hw$N> à{VeV Ho$ ê$n _| &
{H$E JE M`Z Ho$ AZwgma, {H$íVm| H$m A{J«_ ^wJVmZ dm{f©H$ `m AY©-dm{f©H$
`m Ì¡_m{gH$ `m _m{gH$ A§Vamb na {H$`m OmEJm Am¡a {d{^Þ àH$ma Ho$
^wJVmZm| Ho$ {bE {H$íV H$s Ý`yZV_ am{e {ZåZ àH$ma hmoJr:
{H$íV ^wJVmZ H$m àH$ma Ý`yZV_ {H$íV am{e
_m{gH$ `5,000/-
Ì¡_m{gH$ `15,000/-
AY©-dm{f©H$ `25,000/-
dm{f©H$ `50,000/-
`{X nm°{bgrYmaH$/~r{_V ì`pŠV Ûmam MwZo JE {dH$ën Ho$ AZwgma, Ý`yZV_
{H$íV H$s am{e H$s ì`dñWm H$aZo Ho$ {bE dm§{N>V am{e go H$_ h¡ Vmo Xmdo
H$s àm{á`m| H$m ^wJVmZ EH$_wíV hr {H$`m OmEJm &
Bg {dH$ën Ho$ A§VJ©V {H$íV Ho$ ^wJVmZm| H$s JUZm H$aZo Ho$ {bE bmJy ã`mO
Xam| H$m {ZYm©aU {ZJ_ Ûmam g_`-g_` na {H$`m OmEJm &
_¥Ë`w {hVbm^ {H$íVm| _| boZo H$m {dH$ën MwZZo Ho$ {bE, nm°{bgrYmaH$,
~r{_V ì`pŠV H$s Ad`ñH$Vm Ho$ Xm¡amZ Am¡a d`ñH$ ~r{_V ì`pŠV AnZo
OrdZH$mb _| nm°{bgr Ho$ Mmby ahVo hþE {H$gr ^r g_` `h {dH$ën MwZ
gH$Vm h¡, {Og_| {H$íVm| Ho$ ^wJVmZ H$s Ad{Y Am¡a {Og {Zdb am{e Ho$
{bE `h {dH$ën MwZm OmZm h¡, Cg am{e H$mo {d{Z{X©ï> {H$`m OmEJm & Eogo _|
_¥Ë`w Xmdm am{e H$m ^wJVmZ nm°{bgrYmaH$/~r{_V ì`pŠV Ho$ {dH$ën Ho$
AZwgma Zm{_Vr H$mo H$a {X`m OmEJm Am¡a Zm{_Vr H$mo Bg_| {H$gr ^r àH$ma
H$m n[adV©Z H$aZo H$s AZw_{V Zht Xr OmEJr &
LIC’s Jeevan Labh Page 12 of 20
vii) In case the policy shall mature or surrendered or become a
claim by death, the Corporation shall become entitled to
deduct the amount of the Loan or any portion thereof which
is outstanding, together with all interest from the policy
moneys.
viii) Corporation is entitled to recover or recall the amount of the
Loan with all due interest by giving 3 months notice.
6. Termination of Policy:
The policy shall immediately and automatically terminate on
the earliest occurrence of any of the following events:
a) The date on which lumpsum death benefit/final instalment
of death benefit is paid; or
b) The date on which surrender benefits are settled under the
policy; or
c) The date of maturity if settlement option is not exercised; or
d) On payment of final installment under Settlement Option; or
e) In the event of default in payment of loan interest as
specified in Condition 5 of Part D of this policy document; or
f) On expiry of Revival Period if the policy, which has not
acquired paid up status, has not been revived within the
revival period; or
g) On payment of free look cancellation amount; or
h) In the event of forfeiture as specified in Condition 2.(ii) of
Part D of this Policy Document.
7. Free look period:
During the Free Look period of 15 days from the date of receipt
of the Policy Document by the Policyholder, if the Policyholder
is not satisfied with the Terms and Conditions of the policy,
he/she may return the policy to the Corporation stating the
reason of objections. On receipt of the same the Corporation
shall cancel the policy and return the amount of premium
deposited after deducting the proportionate risk premium (for
Base Policy and Rider, if opted for) for the period of cover and
charges for medical examinations, special reports, if any and
stamp duty.
8. Option to take Death Benefit in instalments:
This is an option to receive Death Benefit in instalments over
the chosen period of 5 or 10 or 15 years instead of lump sum
amount under an in-force as well as paid-up policy. This option
can be exercised by the Policyholder during minority of the Life
Assured or by Life Assured aged 18 years and above, during
his/her life time; for full or part of Death benefits payable under
the policy. The amount opted for by the Policyholder/Life
Assured (i.e. Net Claim Amount) can be either in absolute
value or as a percentage of the total claim proceeds payable.
The instalments shall be paid in advance at yearly or half-
yearly or quarterly or monthly intervals, as opted for, subject to
minimum instalment amount for different modes of payments
being as under:
Mode of Instalment Minimum Instalment
payment amount
Monthly `5,000/-
Quarterly `15,000/-
Half-Yearly `25,000/-
Yearly `50,000/-
If the Net Claim Amount is less than the required amount to
provide the minimum instalment amount as per the option
exercised by the Policyholder/Life Assured, the claim proceed
shall be paid in lump sum only.
The interest rates applicable for arriving at the instalment
payments under this option shall be as fixed by the Corporation
from time to time.
For exercising option to take Death Benefit in instalments, the
Policyholder during minority of the Life Assured or the Life
Assured, if major, can exercise this option during his/her
lifetime while in currency of the policy, specifying the period of
Instalment payment and net claim amount for which the option
is to be exercised. The death claim amount shall then be paid to
the nominee as per the option exercised by the Policyholder/
Life Assured and no alteration, whatsoever, shall be allowed to
be made by the nominee.
Plan No.- 936
9. {ZnQ>mZ {dH$ën (n[an¹$Vm {hVbm^ Ho$ {bE):
{ZnQ>mZ {dH$ën, Mmby Am¡a àXÎm XmoZm| hr nm°{b{g`m| Ho$ A§VJ©V, n[an¹$Vm
{hVbm^ H$s EH$_wíV am{e àmá H$aZo H$s ~Om`, CgH$mo 5 `m 10 `m
15 dfm] H$s MwZr JB© Ad{Y _| {H$íVm| _| boZo H$m {dH$ën h¡ &
nm°{bgrYmaH$ Ûmam Bg {dH$ën H$m MwZmd, Bg nm°{bgr Ho$ A§VJ©V Xo`
n[an¹$Vm-àm{á H$mo nyU© `m Am§{eH$ ^mJ Ho$ {bE, ~r{_V ì`pŠV H$s
Zm~m{bJr Ho$ Xm¡amZ AWdm 18 df© `m Cggo A{YH$ Am`w Ho$ ~r{_V
ì`pŠV Ûmam {H$`m Om gH$Vm h¡ & nm°{bgrYmaH$/~r{_V ì`pŠV Ûmam MwZr
JB© am{e (AWm©V {Zdb Xmdm am{e) `m Vmo gw{Z{üV _yë` Ho$ ê$n _| hmoJr
`m Hw$b Xo` Xmdm àm{á`m| Ho$ Hw$N> à{VeV Ho$ ê$n _| &
{H$E JE M`Z Ho$ AZwgma, {H$íVm| H$m A{J«_ ^wJVmZ dm{f©H$, AY©-
dm{f©H$, Ì¡_m{gH$ `m _m{gH$ A§Vambm| na {H$`m OmEJm Am¡a {d{^Þ àH$ma
Ho$ ^wJVmZm| Ho$ {bE {H$íVm| H$s Ý`yZV_ am{e {ZåZ àH$ma hmoJr:
{H$íV ^wJVmZ H$m àH$ma Ý`yZV_ {H$íV am{e
_m{gH$ `5,000/-
Ì¡_m{gH$ `15,000/-
AY©-dm{f©H$ `25,000/-
dm{f©H$ `50,000/-
`{X nm°{bgrYmaH$/~r{_V ì`pŠV Ûmam MwZo JE {dH$ën Ho$ AZwgma,
Ý`yZV_ {H$íV H$s am{e H$s ì`dñWm H$aZo Ho$ {bE dm§{N>V am{e go H$_ h¡
Vmo Xmdo H$s àm{á`m| H$m ^wJVmZ EH$_wíV hr {H$`m OmEJm &
{ZnQ>mZ {dH$ën Ho$ A§VJ©V {H$íV Ho$ ^wJVmZm| H$s JUZm H$aZo Ho$ {bE
bmJy ã`mO Xam| H$m {ZYm©aU {ZJ_ Ûmam g_`-g_` na {H$`m OmEJm &
n[an¹$Vm {hVbm^ Ho$ ~Xbo {ZnQ>mZ {dH$ën MwZZo Ho$ {bE,
nm°{bgrYmaH$/ ~r{_V ì`pŠV H$mo, n[an¹$Vm Xmdo H$s Xo` VmarI go H$_
go H$_ VrZ _hrZo nyd© {Zdb Xmdm am{e H$m ^wJVmZ {H$íVm| _| H$aZo H$m
{dH$ën MwZZm hmoJm &
nhbm ^wJVmZ n[an¹$Vm H$s VmarI na {H$`m OmEJm Am¡a CgHo$ nümV²,
nm°{bgrYmaH$ Ûmam MwZo JE {H$íV Ho$ ^wJVmZ Ho$ àH$ma Ho$ AmYma na,
`WmpñW{V, n[an¹$Vm H$s VmarI go àË`oH$ _hrZo, Ì¡_m{gH$s, AY©-
dm{f©H$s `m dm{f©H$s na {H$`m OmEJm &
{ZnQ>mZ {dH$ën Ho$ A§VJ©V {H$íVm| H$m ^wJVmZ àma§^ hmoZo Ho$ nümV² :
i. n[an¹$Vm {hVbm^ Ho$ ~Xbo {Og ~r{_V ì`pŠV Zo {ZnQ>mZ {dH$ën
MwZm h¡ `{X dh ì`pŠV Bg {dH$ën H$mo dmng boZm MmhVm h¡ Am¡a
~H$m`m {H$íVm| H$m {d{Z_` H$amZm MmhVm h¡ Vmo ~r{_V ì`pŠV go
{bpIV AZwamoY àmá hmoZo na BgH$s AZw_{V Xr OmEJr & Eogo _m_bo
_|, {ZåZm§{H$V _| go CƒV_ EH$_wíV am{e H$m ^wJVmZ H$a {X`m
OmEJm Am¡a nm°{bgr g_má hmo OmEJr:
• ^{dî` _| Xo` g_ñV {H$íVm| H$m KQ>m _yë`; AWdm
• (_yb am{e {OgHo$ {bE {ZnQ>mZ {dH$ën MwZm J`m Wm) _| go
(^wJVmZ H$s JB© Hw$b {H$íVm| H$s amer) H$mo KQ>mH$a
ii. ^{dî` Ho$ {H$íV ^wJVmZm| H$s [a`m`Vr Xa na bmJy ã`mO Xa H$m
{ZYm©aU {ZJ_ Ûmam g_`-g_` na {H$`m OmEJm &
iii. {ZnQ>mZ {dH$ën MwZZo dmbo ~r{_V ì`pŠV H$s _¥Ë`w H$s pñW{V _|,
~H$m`m {H$íVm| H$m ^wJVmZ, ~r{_V ì`pŠV Ûmam MwZo JE {dH$ën Ho$
AZwgma Zm{_Vr H$mo {H$`m OmZm Omar ahoJm Am¡a Bg_| Zm{_Vr H$mo
H$moB© ^r n[adV©Z H$aZo H$s AZw_{V Zht hmoJr &
^mJ - "B©'
bmJy Zht
^mJ - "E\$': AÝ` {Z`_ Ed§ eV]
1. H$) g_ZwXoeZ: g_`-g_` na g§emo{YV ~r_m A{Y{Z`_, 1938 H$s
Ymam 38 Ho$ AZwgma, Bg `moOZm Ho$ A§VJ©V g_ZwXoeZ H$s AZw_{V h¡
& Ymam 38 Ho$ dV©_mZ àmdYmZ Bg nm°{bgr XñVmdoO Ho$ n[a{eï>-1
_| {Z{hV h¡ & g_ZwXoeZ H$m Zmo{Q>g, n§OrH$aU Ho$ {bE {ZJ_ Ho$ Cg
H$m`m©b` _| àñVwV {H$`m OmZm Mm{hE, Ohm§ Bg nm°{bgr go g§~§{YV
godmE§ Xr OmVr h¢ &
I) Zm_m§H$Z: g_`-g_` na g§emo{YV ~r_m A{Y{Z`_, 1938 H$s Ymam
39 Ho$ AZwgma, OrdZ ~r_m Ho$ nm°{bgrYmaH$ Ûmam Zm_m§H$Z {H$`m
OmZm dm§{N>V h¡ & Ymam 39 Ho$ dV©_mZ àmdYmZ Bg nm°{bgr XñVmdoO
Ho$ n[a{eï>-2 _| {Z{hV h¢ & Zm_m§H$Z H$m Zmo{Q>g, n§OrH$aU Ho$ {bE
{ZJ_ Ho$ Cg H$m`m©b` _| àñVwV {H$`m OmZm Mm{hE, Ohm§ Bg nm°{bgr
go g§~§{YV godmE§ Xr OmVr h¢ & Zm_m§H$Z Ho$ n§OrH$aU _| {ZJ_ H$moB©
{Oå_oXmar Zht boVm Am¡a Z hr CgH$s d¡YVm `m H$mZyZr à^md Ho$
{df` _| H$moB© _V àH$Q> H$aVm h¡ &
LIC’s Jeevan Labh Page 13 of 20
9. Settlement Option (for Maturity Benefit):
Settlement Option is an option to receive Maturity Benefit in
instalments over the chosen period of 5 or 10 or 15 years
instead of lumpsum amount under an in-force as well as paid-
up policy. This option can be exercised by the Policyholder
during minority of the Life Assured or by Life Assured aged 18
years and above, for full or part of Maturity proceeds payable
under the policy. The amount opted for by the Policyholder/Life
Assured (i.e. Net Claim Amount) can be either in absolute
value or as a percentage of the total claim proceeds payable.
The instalments shall be paid in advance at yearly or half-
yearly or quarterly or monthly intervals, as opted for subject to
minimum instalment amount for different mode of payments
being as under:
Mode of Instalment Minimum Instalment
payment amount
Monthly `5,000/-
Quarterly `15,000/-
Half-Yearly `25,000/-
Yearly `50,000/-
If the Net Claim Amount is less than the required amount to
provide the minimum instalment amount as per the option
exercised by the Policyholder/Life Assured, the claim proceed
shall be paid in lumpsum only.
The interest rates applicable for arriving at the instalment
payments under Settlement Option shall be as fixed by the
Corporation from time to time.
For exercising the Settlement Option against Maturity Benefit,
the Policyholder/Life Assured shall be required to exercise
option for payment of net claim amount in instalments at least 3
months before the due date of maturity claim.
The first payment will be made on the date of maturity and
thereafter, based on the mode of instalment payment opted for
by the policyholder, every month or three months or six months
or annually from the date of maturity, as the case may be.
After the commencement of Instalment payments under
Settlement Option:
i. If a Life Assured, who has exercised Settlement Option
against Maturity Benefit, desires to withdraw this option
and commute the outstanding instalments, the same shall
be allowed on receipt of written request from the Life
Assured. In such case, the lump sum amount which is
higher of the following shall be paid and policy shall
terminate,
• discounted value of all the future instalments due; or
• (the original amount for which settlement option was
exercised) less (sum of total instalments already paid);
ii The interest rate applicable for discounting the future
instalment payments shall be as fixed by the Corporation
from time to time.
iii. After the Date of Maturity, in case of death of the Life
Assured, who has exercised Settlement Option, the
outstanding instalments will continue to be paid to the
nominee as per the option exercised by the Life Assured
and no alteration whatsoever shall be allowed to be made
by the nominee.
PART- E
Not Applicable.
PART – F: OTHER TERMS AND CONDITIONS
1. a) Assignments: Assignment is allowed under this plan as
per Section 38 of the Insurance Act, 1938 as amended from
time to time. The current provisions of Section 38 are
contained in Annexure-1 of this Policy Document. The
notice of assignment should be submitted for registration to
the office of the Corporation, where the policy is serviced.
b) Nominations: Nomination by the holder of a policy of life
assurance on his /her own life is allowed as per Section 39
of the Insurance Act, 1938 as amended from time to time.
The current provisions of Section 39 are contained in
Annexure-2 of this Policy Document. The notice of
nomination or change of nomination should be submitted
for registration to the office of the Corporation, where the
policy is serviced. In registering nomination the
Corporation does not accept any responsibility or express
any opinion as to its validity or legal effect.
Plan No.- 936
2. AmË_hË`m g§~§Yr AndO©Z: _¥Ë`w {hVbm^ ^wJVmZ hoVw Omo ^r eV] Bg
nm°{bgr ànÌ _| H$ht ^r C{„pIV hm| na§Vw AmË_hË`m go hþB© _¥Ë`w H$s
AdñWm _| Xmdo H$m ^wJVmZ {ZåZ{bpIV eVm] Ho$ A§VJ©V {H$`m OmEJm:
i) `{X ~r{_V ì`pŠV (Mmho {d{já hmo `m ñdñW), OmpoI_ àma^§ hmZoo H$s
VmarI go 12 _hrZo H$o AX§a {H$gr g_` AmË_hË`m H$a bVom h¡ Vmo
{H$Ýht H$am,| A{V[aŠV àr{_`_m| (Ad{Y ~r_m AZdw{¥Õ àr{_`_ H$mo
N>mS‹o>H$a) H$mo H$mQ>H$a, H$wb AXm àr{_`_m| H$o 80 à{VeV H$o Abmdm AÝ`
{H$gr Xmdo na {ZJ_ {dMma Zht H$aJom, ~eV} {H$ nm{°bgr Mmby hm&o
ii) `{X ~r{_V ì`pŠV (Mmho {d{já hmo `m ñdñW), nwZM©bZ H$s VmarI
go 12 _hrZo Ho$ A§Xa AmË_hË`m H$a boVm h¡ Vmo _¥Ë`w H$s VmarI VH$
AXm {H$E JE àr{_`_m| (H$am|, A{V[aŠV àr{_`_ Am¡a {H$Ýht Ad{Y
~r_m AZwd¥{Õ àr{_`_m| H$mo N>mo‹S>H$a AZwd¥{Õ àr{_`_m| Ho$ Abmdm) H$s
80 à{VeV am{e `m _¥Ë`y H$s VmarI na CnbãY Aä`n©U _yë` _| go
Omo ^r A{YH$ hmoJm, dh Xo` hmoJm& Bg nm°{bgr Ho$ A§VJ©V, {ZJ_
{H$gr AÝ` Xmdo na {dMma Zht H$aoJm&
àXÎm _yë` àmá {H$E {~Zm H$mbmVrV hþB© nm°{bgr na `h Ymam bmJy
Zht hmoJr Am¡a Eogr nm°{b{g`m| Ho$ A§VJ©V Hw$N> ^r Xo` Zht hmoJm&
J¡a-OãVr Cn~§Ym| Ho$ A§VJ©V CëbopIV Ny>Q>, AmË_hË`m go hþB© _¥Ë`w
Ho$ _m_bo _| bmJy Zht hmoJr&
3. H$a:
^maV gaH$ma AWdm {H$gr AÝ` g§d¡Ym{ZH$ H$a àm{YH$mar Ûmam Eogr ~r_m
`moOZmAm| na `{X H$moB© H$a bJm`m OmVm h¡, Vmo dh Am¡a bmJy H$am| H$s Xa
H$a-H$mZyZm| Ho$ AZwgma hm|Jo &
àM{bV Xam| na bmJy H$am| H$s am{e nm°{bgrYmaH$ Ûmam àr{_`_m| (_yb
nm°{bgr Am¡a `{X H$moB© AZw~¥{Õ h¡ Vmo CgHo$ {bE) H$s am{e, ~r_mboIZ Ho$
H$maU nm°{bgr Ho$ A§VJ©V br JB© A{V[aŠV am{e g{hV (`{X H$moB© hmo),
nm°{bgrYmaH$ Ûmam Xo` hmoJr, Omo AbJ go Am¡a nm°{bgrYmaH$ Ûmam Xo`
àr{_`_ Ho$ A{V[aŠV dgyb H$s OmEJr & Bg `moOZm Ho$ A§VJ©V Xo`
{hVbm^m| H$s JUZm H$aZo Ho$ {bE H$am| H$s am{e H$mo em{_b Zht {H$`m
OmEJm &
4. Xmdo Ho$ {bE gm_mÝ` AnojmE§:
H$) _¥Ë`w Xmdm: ~r{_V ì`pŠV H$s _¥Ë`w H$s pñW{V _| Xmdm XmpIb H$aVo
hþE, XmdmH$Vm© {ZJ_ H$s g§Vw{ï> Ho$ AZwgma Omo gm_mÝ` XñVmdoO
XmpIb H$aoJm, do hm|Jo: {ZJ_ Ûmam {ZYm©[aV Xmdm ànÌ Ho$ gmW _yb
nm°{bgr XñVmdoO, ~¢H$ ImVo _| Xmdm am{e grYo O_m H$aZo Ho$ {bE
XmdmH$Vm© go EZB©E\$Q>r AmXoe-nÌ, A{YH$ma H$m à_mU, _¥Ë`w H$m
à_mU, _¥Ë`w go nhbo `{X H$moB© BbmO hþAm hmo, ñHy$b/H$m°boO/
{Z`moŠVm H$m à_mU, Omo ^r bmJy hmoVo hm| & `{X nm°{bgr Ho$ A§VJ©V
Am`w ñdrH¥$V Zht h¡ Vmo ~r{_V ì`pŠV H$s Am`w H$m à_mU ^r XmpIb
{H$`m OmEJm &
H$moB© ^r Xmdm ñdrH$m`© hmoZo Ho$ {bE _¥Ë`w H$s VmarI go 90 {XZ Ho$
A§Xa, _¥Ë`w H$s gyMZm _¥Ë`w à_mUnÌ Ho$ gmW {ZJ_ Ho$ Cg H$m`m©b`
_| A{Ygy{MV H$s OmZr Mm{hE, Ohm§ nm°{bgr go g§~§{YV godmE§ Xr
OmVr h¢ & VWm{n, XmdmH$Vm© Ho$ Ûmam gƒo Xmdm| H$s gyMZm _| hþB© Xoar
H$mo, {ZJ_ Ho$ Ûmam JwU-Xmof Ho$ AmYma na Am¡a XmdmH$Vm© Ho$ AmYma
na VWm XmdmH$Vm© Ho$ {Z`§ÌU go ~mha Ho$ H$maUm| go hþB© Xoar à_m{UV
hmoZo na bmJy {H$`m Om gH$Vm h¡ &
I) n[an¹$Vm/Aä`n©U Xmdm: O~ nm°{bgr H$m A§V, n[an¹$Vm Xmdo Ho$
én _| hmo `m nm°{bgr Ho$ Aä`n©U H$s pñW{V _|, ~r{_V ì`pŠV H$mo,
_yb nm°{bgr XñVmdoO Ho$ gmW {d_wpŠV ànÌ, ~¢H$ ImVo _| Xmdm am{e
grYo O_m H$aZo Ho$ {b`o XmdmH$Vm© H$mo EZB©E\$Q>r AmXoe-nÌ Ho$ gmW
hr Am`w H$m à_mU (`{X Am`w nhbo ñdrH¥$V Zht H$s JB©) XmpIb
H$aZm hmoJm &
Cn`w©ŠV XñVmdoO Ho$ Abmdm, do AnojmE§ ^r àñVwV H$aZo H$mo H$hm Om
gH$Vm h¡, Omo {H$gr d¡Ym{ZH$ àmdYmZ Ho$ A§VJ©V AmXo{eV hm| `m H$mZyZ Ho$
AZwgma dm§{N>V hm|&
5. àmH¥${VH$/An[ahm`© AmnXm: àmH¥${VH$ AmnXm, amOH$s` H$ma©dmB©, h‹S>Vmb,
Vmbm~§Xr, {H$gr gaH$ma `m {H$gr ^r d¡Ym{ZH$ àm{YH$mar Ho$ {H$gr H$mZyZ
AWdm à{V~§Y AWdm {ZJ_ Ho$ nydm©Zw_mZ `m {Z`§ÌU Ho$ ~mha H$s
n[apñW{V`m| Ho$ \$bñdê$n, `{X {ZJ_ H$m H$m`©-{ZînmXZ `m AÝ` H$Îm©ì`
~m{YV hmoZo H$s pñW{V _|, Eogr AmnXm Ho$ Omar ahZo Ho$ Xm¡amZ Bg nm°{bgr
H$m {ZînmXZ nyU©V: `m Am§{eH$ ê$n go {Zb§{~V ahoJm& BZ_| go H$moB© ^r
n[adV©Z H$aZo go nhbo, AmB©AmaS>rEAmB© H$mo gyMZm XoZo Am¡a CZH$m nyd©-
AZw_moXZ àmá H$aZo Ho$ {bE, {ZJ_ dMZ~Õ h¡&
LIC’s Jeevan Labh Page 14 of 20
2. Suicide Exclusions: Notwithstanding the provision of
benefits payable on death mentioned anywhere in this Policy
Document, the provisions related to claim payment in case of
death due to suicide shall be subject to the conditions as
specified herein under:
i) If the Life Assured (whether sane or insane) commits
suicide at any time within 12 months from the date of
commencement of risk, the Corporation will not entertain
any claim under this policy except for 80% of the total
premiums paid excluding any taxes, extra premium and
rider premiums other than term assurance rider, if any,
provided the policy is in-force.
ii) If the Life Assured (whether sane or insane) commits
suicide within 12 months from date of revival, an amount
which is higher of 80% of the total premiums paid till the
date of death and (excluding any taxes, extra premium and
rider premiums other than term assurance rider, if any), or
the surrender value available as on the date of death, shall
be payable. The Corporation will not entertain any other
claim under this policy.
This clause shall not be applicable for a policy lapsed
without acquiring paid up value and nothing shall be
payable under such policies.
The relaxation mentioned above under Non-forfeiture
provisions shall not be applicable in case of death due to
suicide.
3. Tax:
Statutory Taxes, if any, imposed on such insurance plans by
the Government of India or any other constitutional tax
Authority of India shall be as per the Tax laws and the rate of tax
as applicable from time to time.
The amount of applicable taxes as per the prevailing rates shall
be payable by the policyholder on premiums (for base policy &
rider(s), if any) including extra premium, if any which shall be
collected separately over and above in addition to the
premiums payable by the policyholder. The amount of tax paid
shall not be considered for the calculation of any benefits
payable under the plan.
4. Normal requirements for a claim:
a) Death Claim: The normal documents which the claimant
shall submit while lodging the claim in case of death of the
Life Assured shall be claim forms, as prescribed by the
Corporation, accompanied with original policy document,
NEFT mandate from the claimant for direct credit of the
claim amount to the bank account, proof of title, proof of
death, medical treatment prior to the death( if any), school/
college/ employer's certificate, whichever is applicable, to
the satisfaction of the Corporation. If the age is not admitted
under the policy, the proof of age of the Life Assured shall
also be submitted.
Within 90 days from the date of death, intimation of death
along with death certificate must be notified in writing to the
office of the Corporation where the policy is serviced for
any claims to be admissible. However, delay in intimation of
the genuine claim by the claimant, may be condoned by the
Corporation, on merit, and where delay is proved to be for
the reasons beyond his/her control.
b) Maturity/Surrender Claim: Where the policy results into a
maturity claim or in case of surrender of the policy, the Life
Assured shall submit the discharge form along with the
original policy document, NEFT mandate from the claimant
for direct credit of the claim amount to the bank account
besides proof of age, if the age is not admitted earlier.
In addition to above, any requirement mandated under any
statutory provision or as may be required as per law shall also
be required to be submitted.
5. Force Majeure: In the event where the Corporation’s
performance or any other obligations are prevented or
hindered as a consequence of any act of God or state, strike,
lock out, legislation or restriction by any government or any
other statutory authority or any other circumstances that lie
beyond the Corporation’s anticipation or control, the
performance of this policy shall be wholly or partially
suspended during the continuance of such force majeure. The
Corporation shall resume its obligations towards the Policy as
soon as the Force Majeure event ceases. The Corporation
undertakes to keep the IRDAI informed and seek prior
approval before effecting any of these changes.
Plan No.- 936
6. {dYm`r n[adV©Z: Bg nm°{bgr Ho$ A§VJ©V Xo` àr{_`_ Ed§ {hVbm^ g{hV,
{Z`_ Ed§ eVm] g§~§{YV {dYmZ Ed§ {d{Z`_m| Ho$ AZwgma n[adV©Zerb h¢ &
7. {hVbm^ {ZXe©Z: AmnH$m {ZX}e {Z{_©V {hVbm^ {ZXe©Z Bg nm°{bgr
XñVmdoO Ho$ gmW g§b¾ h¢ &
^mJ "Or': d¡Ym{ZH$ àmdYmZ
~r_m A{Y{Z`_, 1938 H$s Ymam 45 :
g_`-g_` na g§emo{YV ~r_m A{Y{Z`_, 1938 H$s Ymam 45 Ho$ àmdYmZ bmJy
hm|Jo & dV©_mZ àmdYmZ Bg nm°{bgr XñVmdoO H$s n[a{eï> 3 _| g§b¾ h¡ &
{eH$m`V {ZdmaU aMZmV§Ì :
{ZJ_ H$s:
J«mhH$m| Ho$ {eH$m`Vm| Ho$ {ZdmaU Ho$ {bE emIm/ _ÊS>br`/ joÌr`/ Ho$ÝÐr`
H$m`m©b`m| _| {ZJ_ Ho$ {eH$m`V {ZdmaU A{YH$mar hmoVo h¢ & J«mhH$m| H$s {eH$m`Vm|
Ho$ erK« {ZdmaU Ho$ {bE {ZJ_ Zo AnZo J«mhH$ nmoQ>©b (do~gmBQ>:
http://www.licindia.in) Ho$ _mÜ`_ go J«mhH$-AZwHy$b, g_mH${bV {eH$m`V
à~§YZ àUmbr H$s ewê$AmV H$s h¡, Ohm§ na H$moB© ^r n§OrH¥$V nm°{bgrYmaH$
{eH$m`V/{eH$m`V H$m n§OrH$aU H$am gH$Vm h¡ Am¡a CgH$s pñW{V na Ñ{ï>
aI gH$Vm h¡ & {H$gr ^r {eH$m`V Ho$ {ZdmaU Ho$ {bE J«mhH$ B©-_ob
co_crmgrv@licindia.com na ^r g§nH©$ H$a gH$Vo h¢ &
_¥Ë`w Xmdm| Ho$ AñdrH¥${V Ho$ {ZU©` go Ag§Vwï> XmdmH$Vm©Am| Ho$ nmg, AnZo _m_bm|
Ho$ nwZarjU Ho$ {bE joÌr` H$m`m©b` Xmdm {eH$m`V {ZdmaU g{_{V `m Ho$ÝÐr`
H$m`m©b` Xmdm {eH$m`V {ZdmaU g{_{V Ho$ nmg bo OmZo Ho$ {dH$ën h¢ & Cƒ
Ý`m`mb`/{Obm Ý`m`mb` H$m EH$ Ý`m`mYre g^r Xmdm n[admX {ZdmaU
g{_{V`m| H$m gXñ` hmoVm h¡ &
AmB©AmaS>rEAmB© H$s:
`{X J«mhH$ h_mao CÎma go g§Vwï> Zht h¡ `m h_go 15 {XZm| Ho$ A§Xa H$moB© CÎma Zht
{_bVm h¡ Vmo J«mhH$, {ZåZ{bpIV {H$gr ^r _mÜ`_ go AmB©AmaS>rEAmB© Ho$
{eH$m`V H$j _| Om gH$Vm h¡:
• Q>mob-\«$s ({Z:ewëH$) Z§~a 155255 / 18004254732 (AWm©V
AmB©AmaS>rEAmB© H$m {eH$m`V Q>obr\$moZ Ho$ÝÐ) _| \$moZ H$aHo$ &
• complaints@irdai.gov.in na B©-_ob H$aHo$
• B§Q>aZoQ> Ho$ _mÜ`_ go http://www.igms.irdai.gov.in na {eH$m`V
XO© H$aHo$
• H$w[a`a/nÌ Ûmam {eH$m`V ^O o Zo H$o {bE nVm: Cn^mŠoVm _m_bm {d^mJ,
^maVr` ~r_m {Z`m_H$ Ed§ {dH$mg àm{YH$aU, gd} g»§`m-115/1,
\$mBZ{|e`b {S>pñQ>´ŠQ>, ZmZH$am_JS‹w>m, JmMr ~mdbr, hX¡am~mX-500 032
(Vob§JmZm)
bmoH$nmb H$s:
Xmdo go g§~§{YV {eH$m`Vm| Ho$ {ZdmaU Ho$ {bE, XmdmH$Vm© ~r_m bmoH$nmb Ho$ nmg
^r Om gH$Vo h¢ Omo J«mhH$m| H$mo H$_ bmJV na Vrd« _Ü`ñWVm àXmZ H$aVo h¢ &
~r_m bmHo$nmb {Z`_mdbr, 2017 H$o AZg w ma, bmHo$nmb Eg
o o _m_bm| go g~§{§YV {eH$m`V
AWdm {eH$m`V àmá H$a gH$Vo h¢ Ama¡ CZ na {dMma H$a gH$Vo h,¢ Og ¡ o {H$:
H$) Xmdm| Ho$ {ZnQ>mZ _|, ^maVr` ~r_m {Z`m_H$ Ed§ {dH$mg àm{YH$aU
A{Y{Z`_, 1999 Ho$ A§VJ©V ~ZmE JE {d{Z`_m| _| {d{Z{X©ï> g_`-
gr_m go A{YH$ Xoar
I) OrdZ ~r_mH$Vm©, gmYmaU ~r_mH$Vm© `m ñdmñÏ` ~r_mH$Vm© Ûmam Xmdm|
H$s Am§{eH$ `m nyU© AñdrH¥${V;
J) ~r_m nm°{bgr H$s eVm] Ho$ AZwgma AXm {H$E JE `m Xo` àr{_`_m| na
{eH$m`V
K) nm°{bgr XñVmdoO _| `m nm°{bgr g§{dXm _| {H$gr ^r g_` nm°{bgr Ho$
{Z`_ Ed§ eVm] na AÝ`Wm H$WZ H$aZm
L) ~r_m nm°{bgr H$s H$mZyZr g§aMZm, O~{H$ {eH$m`V Xmdo go g§~§{YV hmo
M) ~r_mH$Vm©Am|, CZHo$ H$m`©H$Vm©Am| Ed§ _Ü`ñWm| Ho$ {dê$Õ nm°{bgr godm
g§~§Yr {eH$m`V
N>) Eogr OrdZ ~r_m nm°{bgr, ñdmñÏ` nm°{bgr g{hV gmYmaU ~r_m
nm°{bgr Omar H$aZm, Omo àñVmdH$ Ûmam XmpIb àñVmd-nÌ Ho$
AZwgma Z hmo;
O) OrdZ ~r_m VWm ñdmñÏ` g{hV gmYmaU ~r_m Ho$ àr{_`_ àmá H$aZo
Ho$ ~mX ^r nm°{bgr Omar Z H$aZm
P) ~r_m A{Y{Z`_, 1938 Ho$ `m g_`-g_` na AmB©AmaS>rEAmB© Ûmam
Omar {d{Z`_m|, n[anÌm|, {Xem{ZX}em| `m AZwXoem| `m nm°{bgr g§{dXm Ho$
{Z`_ Ed§ eVm] Ho$ C„§KZ go CËnÞ H$moB© AÝ` _m_bm, Ohm§ VH$ {H$
LIC’s Jeevan Labh Page 15 of 20
6. Legislative Changes: The Terms and Conditions including
the premiums and benefits payable under this policy are
subject to variation in accordance with the relevant Legislation
& Regulations.
7. Benefit Illustration: Your customized Benefit Illustration is
enclosed to this Policy document.
PART – G: STATUTORY PROVISIONS
Section 45 of the Insurance Act, 1938:
The provisions of the sections 45 of the Insurance Act, 1938 , as
amended from time to time, shall be applicable. The current
provisions are contained in Annexure-3 of this Policy Document.
Grievance Redressal Mechanism:
Of the Corporation:
The Corporation has Grievance Redressal Officers at Branch/
Divisional/ Zonal/ Central Office to redress grievances of
customers. For ensuring quick redressal of customer grievances
the Corporation has introduced Customer friendly Integrated
Complaint Management System through our Customer
Portal (website) which is http://www.licindia.in, where a registered
policy holder can directly register complaint/ grievance and
track its status. Customers can also contact at e-mail id
co_crmgrv@licindia.com for redressal of any grievances.
Claimants not satisfied with the decision of death claim repudiation
have the option of referring their cases for review to Zonal Office
Claims Dispute Redressal Committee or Central Office Claims
Dispute Redressal Committee. A retired High Court/ District Court
Judge is member of each of the Claims Dispute Redressal
Committees.
Of IRDAI :
In case the customer is not satisfied with the response or does not
receive a response from us within 15 days, then the customer may
approach the Grievance Cell of the IRDAI through any of the
following modes:
• Calling Toll Free Number 155255 / 18004254732 (i.e.
IRDAI Grievance Call Centre)
• Sending an email to complaints@irdai.gov.in
• Register the complaint online at http://www.igms.irdai.gov.in
• Address for sending the complaint through courier / letter:
Consumer Affairs Department, Insurance Regulatory and
Development Authority of India, Survey No.115/1, Financial
District, Nanakramguda, Gachibowli, Hyderabad- 500032,
Telangana
Of Ombudsman :
For redressal of Claims related grievances, claimants can also
approach Insurance Ombudsman who provides for low cost and
speedy arbitration to customers.
The Ombudsman, as per Insurance Ombudsman Rules, 2017, can
receive and consider complaints or disputes relating to the matters
such as:
a) Delay in settlement of claims, beyond the time specified in
the regulations, framed under the Insurance Regulatory
and Development Authority of India Act, 1999;
b) Any partial or total repudiation of claims by the life insurer,
General insurer or the health insurer;
c) Disputes over premium paid or payable in terms of
insurance policy;
d) Misrepresentation of policy terms and conditions at any
time in the policy document or policy contract;
e) Legal construction of insurance policies in so far as the
dispute relates to claim;
f) Policy servicing related grievances against insurers and
their agents and intermediaries;
g) Issuance of life insurance policy, general insurance policy
including health insurance policy which is not in conformity
with the proposal form submitted by the proposer;
h) Non-issuance of insurance policy after receipt of premium
in life insurance and general insurance including health
insurance; and
i) Any other matter resulting from the violation of provisions of
the Insurance Act, 1938 or the regulations, circulars,
guidelines or instructions issued by the IRDAI from time to
time or the terms and conditions of the policy contract, in so
Plan No.- 936
 do Ymam (H$) go (M) _| C{„pIV _m_bm| go g§~§{YV hm| &
ZmoQ>: Bg XñVmdoO _| Cëbo{IV {Z`_m| Ed§ eVm] H$s ì`m»`m Ho$ {df` _| H$moB©
{eH$m`V hmoZo H$s pñW{V _|, A§J«oOr ^mfm§Va {d{Y_mÝ` hmoJm &
Amngo AZwamoY h¡ {H$ Amn Bg nm°{bgr H$s Om§M H$a b| Am¡a `{X Bg_| H$moB©
JbVr nmB© OmE, Vmo Bg nm°{bgr H$s gwYma Ho$ {bE Vwa§V bm¡Q>m X| &
n[a{eï> -1
g_ZwXoeZ: ~r_m A{Y{Z`_, 1938 H$s Ymam 38 Ho$ AZwgma
1. {H$gr nm°{bgr H$m nyU© AWdm Am§{eH$ hñVm§VaU `m g_ZwXoeZ, Mmho dh
à{V\$b Ho$ ~Xbo _| hmo `m {~Zm à{V\$b Ho$, nm°{bgr Ho$ D$na hr EH$
n¥ð>m§H$Z H$aHo$ AWdm AbJ go EH$ ànÌ Ho$ Ûmam {H$`m Om gH$Vm h¡ {Og
na XmoZm| hr pñW{V`m| _| hñVm§VaUH$Vm© `m g_ZwXoeH$ `m CgHo$ {d{YdV
àm{YH¥$V A{^H$Vm© Ho$ hñVmja hm|Jo & Bg na H$_ go H$_ EH$ Jdmh Ûmam
gmú`m§{H$V {H$`m OmEJm Am¡a Bg_| {deof ê$n go hñVm§VaU AWdm
g_ZwXoeZ Ho$ VÏ` H$m, CgHo$ H$maUm| H$m, g_ZwXo{eVr Ho$ nyd©M[aÌ H$m VWm
g_ZwXoeZ H$s eVm] H$m C„oI {H$`m OmEJm &
2. Ohm§ {ZJ_ Ho$ nmg `h {dœmg H$aZo H$m n`m©á H$maU h¡ {H$ Eogm hñVm§VaU
`m g_ZwXoeZ àm_m{UH$ Zht h¡ `m nm°{bgrYmaH$ Ho$ {hV _| Zht h¡ `m
gmd©O{ZH$ {hV _| Zht h¡ `m ~r_m nm°{bgr H$m gm¡Xm H$aZo Ho$ {bE {H$`m
J`m h¡ Vmo ~r_mH$Vm© Cn Ymam (1) Ho$ A§VJ©V {H$E JE Eogo hñVm§VaU `m
g_ZwXoeZ Ho$ n¥ð>m§H$Z H$mo ñdrH$ma H$a gH$Vm h¡ `m CgHo$ D$na H$moB©
H$ma©dmB© H$aZo go _Zm H$a gH$Vm h¡ &
3. n¥ð>m§H$Z na H$moB© H$ma©dmB© H$aZo go _Zm H$aZo go nhbo, ~r_mH$Vm© Eogr _Zmhr
Ho$ H$maU {bpIV ê$n _| XO© H$aoJm Am¡a nm°{bgrYmaH$ Ûmam Eogo hñVm§VaU
`m g_ZwXoeZ H$m Zmo{Q>g {XE OmZo Ho$ A{YH$V_ 30 {XZm| Ho$ A§Xa
nm°{bgrYmaH$ H$mo CZ H$maUm| H$s gyMZm XoJm &
4. ~r_mH$Vm© Ûmam Eogo hñVm§VaU `m g_ZwXoeZ na H$ma©dmB© Z H$aZo Ho$ {ZU©` go
`{X {H$gr ì`pŠV H$mo {eH$m`V h¡ Vmo Eogr _Zmhr Ho$ H$maUm| dmbr gyMZm
àmá hmoZo Ho$ 30 {XZ Ho$ A§Xa dh ì`pŠV àm{YH$mar Ho$ gm_Zo Xmdm H$a
gH$Vm h¡&
5. Cn Ymam (2) Ho$ àmdYmZm| Ho$ AYrZ, Eogo n¥ð>m§H$Z Ho$ {ZînmXZ na `m ànÌ
Ho$ {d{YdV² gmú`m§{H$V hmo OmZo na, hñVm§VaU `m g_ZwXoeZ nyU© VWm
{H«$`merb hmo OmEJm & {H$ÝVw `{X Eogm hñVm§VaU `m g_ZwXoeZ ~r_mH$Vm© Ho$
nj _| h¡ Vmo dh {H$gr ~r_mH$Vm© Ho$ {dê$Õ H$m`©H$mar Zht hmoJm Am¡a Bggo
hñVm§Var `m g_ZwXo{eVr H$mo `m CgHo$ H$mZyZr à{V{Z{Y H$mo Eogr nm°{bgr
H$s am{e na `m nm°{bgr _| à{V^yV am{e na dmX MbmZo H$m H$moB© A{YH$ma
V~ VH$ Zht {_boJm O~ VH$ hñVm§VaU `m g_ZwXoeZ H$s {bpIV gyMZm
Am¡a CŠV n¥ð>m§H$Z `m dh ànÌ `m hñVm§VaUH$Vm© Am¡a hñVm§Var Ûmam AWdm
CZHo$ {d{YdV àm{YH¥$V A{^H$Vm© Ûmam gË`m{nV CgH$s EH$ à{V ~r_mH$Vm©
H$mo Xo &
~eV} {H$ `{X ^maV _| EH$ go A{YH$ ñWmZm| na AnZm ì`dgm` MbmVm h¡
Vmo Eogm Zmo{Q>g Ho$db Cgr ñWmZ na {X`m OmEJm, Ohm§ na Cg nm°{bgr go
g§~§{YV godmE§ Xr OmVr h¢ &
6. {Og VmarI na Cn Ymam (5) _| C{„pIV Zmo{Q>g ~r_mH$Vm© H$mo {X`m OmVm
h¡, dh VmarI nm°{bgr _| {hV aIZo dmbo ì`pŠV`m| Ho$ ~rM, hñVm§VaU `m
g_ZwXoeZ Ho$ g^r Xmdm| H$s àmW{_H$Vm H$mo {d{Z`{_V H$aoJr & Am¡a `{X
H$ht na EH$ go A{YH$ hñVm§VaU `m g_ZwXoeZ Ho$ ànÌ h¢ Vmo Eogo ànÌm| Ho$
A§VJ©V Xmdm| H$s àmW{_H$Vm Cgr H«$_ go g§Mm{bV hmoJr, {Og H«$_ _| Cn
Ymam (5) _| C{„pIV Zmo{Q>g {XE JE h¢ &
`{X g_ZwXo{e{V`m| Ho$ ~rM ^wJVmZ H$s àmW{_H$Vm H$mo boH$a H$moB© _V^oX
hmoVm h¡ Vmo Cg {ddmX H$mo àm{YH$mar Ho$ nmg ^oO {X`m OmEJm &
7. Cn Ymam (5) _| C{„pIV Zmo{Q>g àmá hmoZo na, ~r_mH$Vm© Eogo hñVm§VaU `m
g_ZwXoeZ H$m, CgH$s VmarI Am¡a hñVm§Var `m g_ZwXo{eVr Ho$ Zm_ Ho$
VÏ`m| H$mo XO© H$aoJm Am¡a Eogm Zmo{Q>g XoZo dmbo ì`pŠV `m hñVm§Var `m
g_ZwXo{eVr Ho$ AZwamoY na Am¡a {d{Z`_m| Ho$ A§VJ©V {ZYm©[aV ewëH$ AXm
H$aZo na, Eogo Zmo{Q>g H$s àm{á H$s {bpIV nmdVr XoJm Am¡a Eogr nmdVr
~r_mH$Vm© Ho$ à{V Bg ~mV H$m n¸$m g~yV hmoJr {H$ Cgo dh Zmo{Q>g {d{YdV
àmá hmo J`m h¡ {Oggo dh nmdVr g§~§{YV h¡ &
8. hñVm§VaU `m g_ZwXoeZ Ho$ {Z`_ Ed§ eVm] Ho$ AYrZ, ~r_mH$Vm© Cn Ymam
(5) _| C{„pIV Zmo{Q>g H$s àm{á H$s VmarI go, Cg Zmo{Q>g _| Zm{_V
hñVm§Var `m g_ZwXo{eVr H$mo nm°{bgr Ho$ A§VJ©V {hVbm^m| H$m nyU© hñVm§Var
`m g_ZwXo{eVr A{YH$mar H$s _mÝ`Vm XoJm Am¡a Cg ì`pŠV na do g_ñV
Xo`VmAm| Am¡a {Zdb am{e`m§ bmJy hm|Jr Omo hñVm§VaUH$Vm© `m g_ZwXoeH$ na,
hñVm§VaU `m g_ZwXoeZ H$s VmarI na bmJy hmoVr Wt Am¡a dh hñVmV§aUH$Vm©
`m g_ZXweoH$ H$s gh_{V {bE {~Zm `m Eg o r H$mad©mB© _| Cgo njH$ma ~ZmE
LIC’s Jeevan Labh Page 16 of 20
far as they relate to issues mentioned at clauses (a) to (f)
Note: In case of dispute in respect of interpretation of these terms
and conditions mentioned in this document the English version
shall stand valid.
YOU ARE REQUESTED TO EXAMINE THIS POLICY, AND IF
A N Y M I S TA K E B E F O U N D T H E R E I N , R E T U R N I T
IMMEDIATELY FOR CORRECTION.
Annexure-1
Assignment – As per section 38 of the Insurance Act, 1938,
1 A transfer or assignment of a policy of insurance, wholly or in
part, whether with or without consideration, may be made only
by an endorsement upon the policy itself or by a separate
instrument, signed in either case by the transferor or by the
assignor or his duly authorised agent and attested by at least
one witness, specifically setting forth the fact of transfer or
assignment and the reasons thereof, the antecedents of the
assignee and the terms on which the assignment is made.
2 An insurer may, accept the transfer or assignment, or decline to
act upon any endorsement made under sub-section(1), where
it has sufficient reason to believe that such transfer or
assignment is not bonafide or is not in the interest of the policy-
holder or in public interest or is for the purpose of trading of
insurance policy.
3 The insurer shall, before refusing to act upon the endorsement,
record in writing the reasons for such refusal and communicate
the same to the policyholder not later than thirty days from the
date of the policyholder giving notice of such transfer or
assignment.
4 Any person aggrieved by the decision of an insurer to decline to
act upon such transfer or assignment may within a period of
thirty days from the date of receipt of the communication from
the insurer containing reasons for such refusal, prefer a claim
to the Authority.
5 Subject to the provisions in sub-section (2), the transfer or
assignment shall be complete and effectual upon the
execution of such endorsement or instrument duly attested but
except, where the transfer or assignment is in favour of the
insurer, shall not be operative as against an insurer, and shall
not confer upon the transferee or assignee, or his legal
representative, any right to sue for the amount of such policy or
the moneys secured thereby until a notice in writing of the
transfer or assignment and either the said endorsement or
instrument itself or a copy thereof certified to be correct by both
transferor and transferee or their duly authorised agents have
been delivered to the insurer:
Provided that where the insurer maintains one or more places
of business in India, such notice shall be delivered only at the
place where the policy is being serviced.
6 The date on which the notice referred to in sub-section (5) is
delivered to the insurer shall regulate the priority of all claims
under a transfer or assignment as between persons interested
in the policy; and where there is more than one instrument of
transfer or assignment the priority of the claims under such
instruments shall be governed by the order in which the notices
referred to in sub-section (5) are delivered:
Provided that if any dispute as to priority of payment arises as
between assignees, the dispute shall be referred to the
Authority.
7 Upon the receipt of the notice referred to in sub-section (5), the
insurer shall record the fact of such transfer or assignment
together with the date thereof and the name of the transferee or
the assignee and shall, on the request of the person by whom
the notice was given or of the transferee or assignee, on
payment of such fee as may be specified by the regulations,
grant a written acknowledgment of the receipt of such notice;
and any such acknowledgment shall be conclusive evidence
against the insurer that he has duly received the notice to which
such acknowledgment relates.
8 Subject to the terms and conditions of the transfer or
assignment, the insurer shall, from the date of the receipt of the
notice referred to in sub-section (5), recognize the transferee
or assignee named in the notice as the absolute transferee or
assignee or entitled to benefit under the policy, and such
person shall be subject to all liabilities and equities to which the
transferor or assignor was subject at the date of the transfer or
assignment and may institute any proceedings in relation to the
policy, obtain a loan under the policy or surrender the policy
without obtaining the consent of the transferor or assignor or
Plan No.- 936
 {~Zm, nm{°bgr H$o g~§Y§ _| H$mBo© ^r H$mad©mB© àma^§ H$a gH$Vm h,¡ nm{°bgr H$o
AV§JV© F$U bo gH$Vm h¡ `m nm{°bgr H$m Aä`nU© H$a gH$Vm h&¡
ì`m»`m: `{X Cn Ymam (1) _| C{„pIV n¥ð>m§H$Z _| ñnï> ê$n go `h Zht
H$hm J`m hmoJm {H$ g_ZwXoeZ `m hñVm§VaU `hm§ ZrMo Xr JB© Cn Ymam (10)
Ho$ AZwgma geV© h¡, Vmo àË`oH$ hñVm§VaU `m g_ZwXoeZ H$mo nyU© g_ZwXoeZ
`m hñVm§VaU _mZm OmEJm Am¡a g_ZwXo{eVr `m hñVm§Var H$mo, `WmpñW{V,
H«$_e: nyU© g_ZwXo{eVr `m hñVm§Var _mZm OmEJm &
9. ~r_m H$mZyZ (g§emoYZ) A{Y{Z`_, 2015 Ho$ àma§^ go nyd©, {H$gr
g_ZwXoeZ AWdm hñVm§VaU Ho$ A§VJ©V OrdZ ~r_m nm°{bgr Ho$ {H$gr
g_ZwXo{eVr `m hñVm§Var Ho$ à^mdr A{YH$mam| Am¡a à{VH$mam| na, Bg Ymam
Ho$ àmdYmZm| H$m H$moB© à{V^yb à^md Zht n‹S>oJm &
10. {H$gr H$mZyZ Ho$ `m H$mZyZ H$s e{ŠV aIZo dmbr àWm Ho$ hmoVo hþE ^r, `{X
{H$gr ì`pŠV Ho$ nj _| g_ZwXoeZ Bg eV© na {H$`m OmVm h¡ {H$:
H$. g_ZwXo{eVr `m hñVm§Var H$s _¥Ë`w ~r_mYmaH$ go nhbo hmoZo na,
nm°{bgr Ho$ A§VJ©V àm{á`m§ nm°{bgrYmaH$ H$mo `m Zm{_Vr ì`pŠV/
ì`pŠV`m| H$mo Xo` hmo OmE§Jr; AWdm
I. ~r_mYmaH$ Ho$ nm°{bgr Ad{Y VH$ Or{dV ahZo na, dh d¡Y hmoJm &
~eV} {H$ H$moB© geV© g_ZwXo{eVr nm°{bgr na H$moB© F$U boZo H$m `m nm°{bgr
H$mo Aä`{n©V H$aZo H$m A{YH$mar Zht hmoJm &
11. Cn Ymam (1) Ho$ A§VJ©V {H$gr nm°{bgr Ho$ Am§{eH$ g_ZwXoeZ `m hñVm§VaU
Ho$ _m_bo _|, ~r_mH$Vm© H$s Xo`Vm, Am§{eH$ g_ZwXoeZ `m hñVm§VaU Ûmam
àË`m^yV am{e VH$ gr{_V hmoJr Am¡a Eogo nm°{bgrYmaH$ H$mo, Cgr nm°{bgr Ho$
A§VJ©V Xo` eof am{e H$mo AmJo g_ZwXo{eV `m A§V[aV H$aZo H$m A{YH$ma
Zht hmoJm &
n[a{eï> - 2
Zm_m§H$Z: ~r_m A{Y{Z`_, 1938 H$s Ymam 39 Ho$ AZwgma
1. AnZo hr OrdZ na OrdZ ~r_m nm°{bgr aIZo dmbm nm°{bgrYmaH$, nm°{bgr
boVo g_` AWdm nm°{bgr Ho$ ^wJVmZ Ho$ {bE n[an¹$ hmoZo Ho$ nyd© {H$gr ^r
g_` Eogo ì`pŠV/ì`pŠV`m| H$mo Zm_m§{H$V H$a gH$Vm h¡ {OZH$mo,
nm°{bgrYmaH$ H$s _¥Ë`w hmoZo H$s pñW{V _|, nm°{bgr Ho$ A§VJ©V àË`m^yV am{e
H$m ^wJVmZ {H$`m OmEJm &
~eV} {H$ `{X Zm{_Vr Zm~m{bJ h¡ Vmo nm°{bgrYmaH$ Ho$ {bE `h H$mZyZgå_V
hmoJm {H$ dh ~r_mH$Vm© Ûmam ~ZmE JE VarHo$ go {H$gr ì`pŠV H$mo {Z`wŠV H$ao
Omo Zm{_Vr H$s Ad`ñH$Vm Ho$ Xm¡amZ nm°{bgrYmaH$ H$s _¥Ë`w hmo OmZo na,
nm°{bgr Ho$ A§VJ©V àË`m^yV am{e àmá H$a gHo$ &
2. `{X Zm_m§H$Z nm°{bgr Ho$ _yb nmR> _| hr g_m{dï> Zht h¡ Vmo Eogo {H$gr ^r
Zm_m§H$Z H$mo {H«$`merb ~ZmZo Ho$ {bE, nm°{bgr na Eogm n¥ð>m§H$Z H$aHo$,
~r_mYmaH$ H$mo CgH$s gyMZm XoH$a VWm nm°{bgr go g§~§{YV A{^boIm| _|
Cgo n§OrH¥$V H$amZm hmoJm Am¡a nm°{bgr Ho$ ^wJVmZ Ho$ {bE n[an¹$ hmoZo go
nyd© Eogo Zm_m§H$Z H$mo EH$ n¥ð>m§H$Z Ho$ Ûmam `m dgr`V Ho$ Ûmam {H$gr ^r
g_` {ZañV `m n[ad{V©V H$am`m Om gH$Vm h¡ & {H$ÝVw O~ VH$ Eogo
{ZañVrH$aU `m n[adV©Z H$s {bpIV gyMZm ~r_mH$Vm© H$mo Zht Xo Xr OmVr,
V~ VH$ ~r_mH$Vm© nm°{bgr Ho$ _yb nmR> _| C{„pIV `m ~r_mH$Vm© Ho$
A{^boIm| _| n§OrH¥$V Am¡a ~r_mH$Vm© Ûmam nm°{bgr Ho$ A§VJ©V gX²^mdZmnyd©H$
~ZmE JE Zm{_Vr H$mo {H$E JE {H$gr ^r ^wJVmZ Ho$ {bE CÎmaXm`r Zht hmoJm&
3. ~r_mH$Vm© nm°{bgrYmaH$ H$mo, Zm_m§H$Z Ho$ n§OrH$aU H$s `m CgHo$
{ZañVrH$aU H$s `m Cg_| n[adV©Z H$s {bpIV nmdVr XoJm Am¡a Eogo
{ZañVrH$aU `m n[adV©Z Ho$ {bE {d{Z`_m| _| {d{Z{X©ï> ewëH$ bo gHo$Jm &
4. Ymam 38 Ho$ AZwgma {H$E JE nm°{bgr Ho$ hñVm§VaU `m g_ZwXoeZ go
Zm_m§H$Z ñdV: {ZañV hmo OmEJm :
`{X nm°{bgr H$m g_ZwXoeZ {H$gr Eogo ~r_mH$Vm© H$mo {H$`m OmVm h¡, Omo
nm°{bgr Ho$ Aä`n©U _yë` Ho$ A§Xa AWdm F$U H$s AXm`Jr na nwZ:
g_ZwXoeZ H$s pñW{V _| nm°{bgr H$s à{V^y{V na {XE JE F$U Ho$ ~Xbo,
g_ZwXoeZ Ho$ g_` nm°{bgr Ho$ OmopI_ H$m dhZ H$aVm h¡ Vmo Cggo Zm_m§H$Z
{ZañV Zht hmoJm, {H$ÝVw Cggo Zm{_Vr Ho$ A{YH$mam| na, nm°{bgr _|
~r_mH$Vm© Ho$ {hVm| H$s gr_m VH$ hr {dnarV à^md n‹S>oJm &
`h ^r eV© h¡ {H$ `{X hñVm§Var `m g_ZwXo{eVr Ûmam nm°{bgrYmaH$ H$mo {XE
JE F$U Ho$ ~Xbo nm°{bgr Ho$ nyU© `m Am§{eH$ hñVm§VaU `m g_ZwXoeZ go
Zm_m§H$Z {ZañV Zht hmoJm ~pëH$ Zm{_Vr Ho$ {hVm| na Cgr gr_m VH$ {dnarV
à^md nS‹>Jom, Ohm§ VH$ `WmpñW{V, hñVmV§ar `m g_ZXw{oeVr H$m {hV Cg
nm{°bgr _| h¡ &
Am¡a `h ^r eV© h¡ {H$ hñVm§VaU AWdm g_ZwXoeZ Ho$ \$bñdê$n Omo
Zm_m§H$Z ñdV: {ZañV hmo J`m h¡ Vmo g_ZwXo{eVr Ûmam nwZ: g_ZwXoeZ H$aZo
na `m nm°{bgr H$s à{V^y{V Ho$ Abmdm, {bE JE F$U H$s AXm`Jr H$a {XE
OmZo na, nm°{bgrYmaH$ Ho$ nj _| hñVm§Var Ûmam nwZ: hñVm§VaU {H$E OmZo
LIC’s Jeevan Labh Page 17 of 20
making him a party to such proceedings.
Explanation – Except where the endorsement referred to in
sub-section (1) expressly indicates that the assignment or
transfer is conditional in terms of subsection (10) hereunder,
every assignment or transfer shall be deemed to be an
absolute assignment or transfer and the assignee or
transferee, as the case may be, shall be deemed to be the
absolute assignee or transferee respectively.
9 Any rights and remedies of an assignee or transferee of a
policy of life insurance under an assignment or transfer
effected prior to the commencement of the Insurance Laws
(Amendment) Act, 2015 shall not be affected by the provisions
of this section.
10 Notwithstanding any law or custom having the force of law to
the contrary, an assignment in favour of a person made upon
the condition that -
a. The proceeds under the policy shall become payable to the
policyholder or the nominee or nominees in the event of
either the assignee or transferee predeceasing the
insured; or
b. The insured surviving the term of the policy , shall be valid:
Provided that a conditional assignee shall not be entitled to
obtain a loan on the policy or surrender a policy.
11 In the case of the partial assignment or transfer of a policy of
insurance under sub-section (1), the liability of the insurers
shall be limited to the amount secured by partial assignment or
transfer and such policyholder shall not be entitled to further
assign or transfer the residual amount payable under the same
policy.
Annexure – 2
Nomination - As per section 39 of the Insurance Act, 1938
1 The holder of a policy of life insurance on his own life may,
when effecting the policy or at any time before the policy
matures for payment, nominate the person or persons to whom
the money secured by the policy shall be paid in the event of his
death:
Provided that, where any nominee is a minor, it shall be lawful
for the policy holder to appoint any person in the manner laid
down by the insurer, to receive the money secured by policy in
the event of his death during the minority of the nominee.
2 Any such nomination in order to be effectual shall, unless it is
incorporated in the text of the policy itself, be made by an
endorsement on the policy communicated to the insurer and
registered by him in the records relating to the policy and any
such nomination may at any time before the policy matures for
payment be cancelled or changed by an endorsement or a
further endorsement or a will, as the case may be, but unless
notice in writing of any such cancellation or change has been
delivered to the insurer, the insurer shall not be liable for any
payment under the policy made bonafide by him to a nominee
mentioned in the text of the policy or registered in records of the
insurer.
3 The insurer shall furnish to the policy holder a written
acknowledgment of having registered a nomination or a
cancellation or change thereof, and may charge such fee as
may be specified by regulations for registering such
cancellation or change.
4 A transfer or assignment of a policy made in accordance with
Section 38 shall automatically cancel a nomination:
Provided that the assignment of a policy to the insurer who
bears the risk on the policy at the time of the assignment, in
consideration of a loan granted by that insurer on the security
of the policy within its surrender value, or its reassignment on
repayment of the loan shall not cancel a nomination, but shall
affect the rights of the nominee only to the extent of the
insurer’s interest in the policy:
Provided further that the transfer or assignment of a policy,
whether wholly or in part, in consideration of a loan advanced
by the transferee or assignee to the policyholder, shall not
cancel the nomination but shall affect the rights of the nominee
only to the extent of the interest of the transferee or assignee,
as the case may be, in the policy:
Provided also that the nomination, which has been automatically
cancelled consequent upon the transfer or assignment, the
same nomination shall stand automatically revived when the
policy is reassigned by the assignee or retransferred by the
Plan No.- 936
 na, dh Zm_m§H$Z ñdV: hr nwZ: g{H«$` hmo OmEJm &
5. {Og ì`pŠV Ho$ OrdZ H$m ~r_m {H$`m J`m h¡, `{X CgHo$ OrdZH$mb _|
nm°{bgr ^wJVmZ Ho$ {bE n[an¹$ hmo OmVr h¡ AWdm Zm{_Vr (EH$ go A{YH$
Zm{_Vr hmoZo H$s pñW{V _| gmao Zm{_Vr) H$s _¥Ë`w nm°{bgr ^wJVmZ Ho$ {bE
n[an¹$ hmoZo go nyd© hmoZo na nm°{bgr Ho$ A§VJ©V àË`m^yV am{e H$m ^wJVmZ,
`WmpñW{V, nm°{bgrYmaH$ H$mo `m CgHo$ dm[agm| `m H$mZyZr à{V{Z{Y`m| H$mo
`m CÎmam{YH$ma à_mU-nÌ YmaH$ H$mo Xo` hmoJm &
6. Zm{_Vr ì`pŠV `m EH$ go A{YH$ Zm{_Vr hmoZo H$s pñW{V _|, Zm{_V
ì`pŠV`m| Ho$ ~r{_V ì`pŠV go A{YH$ Or{dV ahZo na, nm°{bgr Ho$ A§VJ©V
àË`m^yV am{e Eogo Or{dV ì`pŠV `m ì`pŠV`m| H$mo Xo` hmoJr &
7. Bg Ymam Ho$ AÝ` àmdYmZm| Ho$ AYrZ, `{X H$moB© AnZo hr OrdZ na `m
nm°{bgr boZo dmbm nm°{bgrYmaH$ AnZo _mVm-{nVm H$mo, AnZr nËZr H$mo,
AnZo ~ƒm| H$mo, AnZo n{V:nËZr Am¡a ~ƒm| H$mo `m Bg_| go {H$gr H$mo Zm{_V
H$aVm h¡ Vmo Zm{_Vr Cn Ymam (6) Ho$ A§VJ©V ~r_mYmaH$ Ûmam CgH$mo `m
CZH$mo Xo` am{e Ho$ {bE {hVbm^r A{YH$mar hm|Jo, O~ VH$ {H$ `h {gÕ Z
hmo OmE {H$ nm°{bgr _| AnZo A{YH$ma H$s àH¥${V H$mo Ü`mZ _| aIVo hþE,
nm°{bgrYmaH$ Zm{_V ì`pŠV H$mo Eogm A{YH$ma àXmZ Zht H$a gH$Vm Wm &
8. Cn`w©ŠV C„oI Ho$ AYrZ hr, {Og Zm{_Vr (EH$ go A{YH$ Zm{_Vr hmoZo na
Zm{_{V`m|) na Cn Ymam (7) bmJy hmoVr h¡, CgH$s/CZH$s _¥Ë`w ~r{_V
ì`pŠV Ho$ ~mX, {H$ÝVw nm°{bgr Ho$ A§VJ©V àË`m^yV am{e Ho$ ^wJVmZ go nyd©
hmoZo H$s pñW{V _|, nm°{bgr Ho$ AVJ©V àË`m^yV am{e `m Bg àH$ma _aZo
dmbo ì`pŠV `m ì`pŠV`m| (`WmpñW{V) Ho$ {hñgo H$s nm°{bgr Ûmam àË`m^yV
am{e H$m ^mJ, Zm{_Vr Ho$ dm[agm| H$mo `m H$mZyZr à{V{Z{Y`m| H$mo `m
`WmpñW{V CÎmam{YH$ma à_mU-nÌ YmaH$ H$mo Xo` hmoJm Am¡a do Cg am{e Ho$
{hVbm^ A{YH$mar hm|Jo &
9. OrdZ ~r_m nm°{bgr H$s àm{á`m| _| go boZXmam| Ho$ A{YH$mam| H$mo g_má H$aZo
Ho$ {bE `m CZ_| ~mYm Ho$ {bE Cn Ymam (7) Am¡a (8) _| go Hw$N> ^r bmJy
Zht hmoJm &
10. Cn Ymam (7) Am¡a (8) Ho$ àmdYmZ OrdZ ~r_m H$s CZ g^r nm°{b{g`m| na
bmJy hm|Jo Omo ~r_m H$mZyZ (g§emoYZ) A{Y{Z`_, 2015 Ho$ àma§^ hmoZo Ho$
~mX ^wJVmZ Ho$ {bE n[an¹$ hm|Jr &
11. `{X nm°{bgrYmaH$ H$s _¥Ë`w nm°{bgr H$s n[an¹$Vm Ho$ ~mX hmoVr h¡, {H$ÝVw
CgH$s _¥Ë`w Ho$ H$maU CgH$s nm°{bgr Ho$ {hVbm^m| H$m ^wJVmZ Cgo Zht
{H$`m Om gH$m h¡ Vmo CgHo$ Zm{_Vr CgH$s nm°{bgr H$s àm{á`m| Am¡a
{hVbm^m| Ho$ hH$Xma hm|Jo &
12. Bg Ymam Ho$ àmdYmZ OrdZ ~r_m H$s {H$gr ^r Eogr nm°{bgr na bmJy Zht
hm|Jo, {Og na {ddm{hV _{hbm g§n{Îm A{Y{Z`_, 1874 H$s Ymam 6 bmJy
hmoVr h¡ `m {H$gr g_` bmJy ahr h¡ &
~eV} {H$ `{X AnZo OrdZ H$m, AnZr nËZr H$m, AnZo ~ƒm| H$m `m BZ_| go
{H$gr H$m ^r ~r_m H$amZo dmbo ì`pŠV H$s nËZr Ho$ nj _| ~r_m H$mZyZ
(g§emoYZ) A{Y{Z`_, 2015 Ho$ àma§^ go nyd© `m ~mX _| {H$`m J`m
Zm_m§H$Z Bg Ymam Ho$ A§VJ©V {H$E JE Zm_m§H$Z Ho$ ê$n _| A{^ì`ŠV h¡
(Mmho dh nm°{bgr Ho$ \$bH$ na hmo `m Zht) Vmo _mZm OmEJm {H$ CŠV Ymam
6 nm°{bgr na bmJy Zht hmoVr Am¡a Z hr Cgo nm°{bgr na bmJy {H$`m J`m h¡&
n[a{eï> -3
~r_m A{Y{Z`_, 1938 Ho$ AZwgma Ymam 45
1. nm{°bgr H$s VmarI AWmV©² nm{°bgr Omar H$aZo H$s VmarI AWdm OmpoI_ àma^§
hmZoo H$s VmarI AWdm nm{°bgr H$o nZwMb © Z H$s VmarI AWdm nm{°bgr _|
AZ~w{¥Õ H$s VmarI (BZ_| Omo ^r ~mX _| hm)o H$o ~mX VrZ df© g_má hmo OmZo na
OrdZ ~r_m H$s {H$gr ^r nm{°bgr na {H$gr ^r AmYma na H$mBo© àý Zht {H$`m
OmEJm&
2. nm°{bgr Omar H$aZo H$s VmarI AWdm OmopI_ àma§^ hmoZo H$s VmarI AWdm
nm°{bgr Ho$ nwZM©bZ H$s VmarI AWdm nm°{bgr _| AZw~¥{Õ H$s VmarI (BZ_|
go Omo ^r ~mX _| hmo) go VrZ dfm] Ho$ A§Xa OrdZ ~r_m nm°{bgr na H$nQ> Ho$
AmYma na àý {H$`m Om gH$Vm h¡:
~eV} {H$ ~r_mH$Vm© H$mo CZ g^r AmYmam| Am¡a gm_J«r H$s {bpIV gyMZm
~r_mYmaH$ H$mo, `m H$mZyZr à{V{Z{Y`m| H$mo, Zm{_{V`m| `m g_ZwXo{e{V`m| H$mo
XoZr hmoJr, {OZ na Eogm {ZU©` AmYm[aV h¡ &
ì`m»`m - I : Bg Cn Ymam Ho$ CÔoí` Ho$ {bE "'H$nQ>'' H$m AW© ~r_mYmaH$
`m CgHo$ A{^H$Vm© Ûmam {H$`m J`m H$moB© ^r Eogm {ZåZ{bpIV H$m`© hmoJm Omo
~r_mH$Vm© H$mo R>JZo `m ~r_mH$Vm© H$mo OrdZ ~r_m nm°{bgr Omar H$aZo hoVw
à^m{dV H$aZo Ho$ {bE {H$`m J`m hmo :-
H$) Eogo VÏ` H$m gwPmd Omo gË` Z hmo Am¡a {OgHo$ gË` hmoZo na
~r_mYmaH$ H$mo {dœmg Z hmo;
I) {H$gr {dœmg `m VÏ` H$m kmZ hmoZo na ^r ~r_mYmaH$ Ûmam {H$gr
LIC’s Jeevan Labh Page 18 of 20
transferee in favour of the policyholder on repayment of loan
other than on a security of policy to the insurer.
5 Where the policy matures for payment during the lifetime of the
person whose life is insured or where the nominee or, if there
are more nominees than one, all the nominees die before the
policy matures for payment, the amount secured by the policy
shall be payable to the policyholder or his heirs or legal
representatives or the holder of a succession certificate, as the
case may be.
6 Where the nominee or if there are more nominees than one, a
nominee or nominees survive the person whose life is insured,
the amount secured by the policy shall be payable to such
survivor or survivors.
7 Subject to the other provisions of this Section, where the holder
of a policy of insurance on his own life nominates his parents,
or his spouse, or his children, or his spouse and children, or any
of them, the nominee or nominees shall be beneficially entitled
to the amount payable by the insurer to him or them under sub-
section (6) unless it is proved that the holder of the policy,
having regard to the nature of his title to the policy, could not
have conferred any such beneficial title on the nominee.
8 Subject as aforesaid, where the nominee, or if there are more
nominees than one, a nominee or nominees, to whom sub-
section (7) applies, die after the person whose life is insured
but before the amount secured by the policy is paid, the amount
secured by the policy, or so much of the amount secured by the
policy as represents the share of the nominee or nominees so
dying (as the case may be), shall be payable to the heirs or
legal representatives of the nominee or nominees or the holder
of a succession certificate, as the case may be, and they shall
be beneficially entitled to such amount.
9 Nothing in sub-sections (7) and (8) shall operate to destroy or
impede the right of any creditor to be paid out of the proceeds of
any policy of life insurance.
10 The provisions of sub-sections (7) and (8) shall apply to all
policies of life insurance maturing for payment after the
commencement of the Insurance Laws (Amendment) Act,
2015.
11 Where a policyholder dies after the maturity of the policy but
the proceeds and benefit of his policy has not been made to
him because of his death, in such a case, his nominee shall be
entitled to the proceed and benefit of his policy.
12 The provisions of this Section shall not apply to any policy of life
insurance to which section 6 of the Married Women’s Property
Act, 1874, applies or has at any time applied:
Provided that where a nomination made whether before or
after the commencement of the Insurance Laws (Amendment)
Act, 2015, in favour of the wife of the person who has insured
his life or of his wife and children or any of them is expressed,
whether or not on the face of the policy, as being made under
this section, the said section 6 shall be deemed not to apply or
not to have applied to the policy.
Annexure-3
Section- 45 as per Insurance Act, 1938
1 No policy of life insurance shall be called in question on any
ground whatsoever after the expiry of three years from the date
of the policy, i.e. from the date of issuance of the policy or the
date of commencement of risk or the date of revival of the
policy or the date of the rider to the policy, whichever is later.
2 A policy of life insurance may be called in question at any time
within three years from the date of issuance of the policy or the
date of commencement of risk or the date of revival of the
policy or the date of the rider to the policy, whichever is later on
the ground of fraud:
Provided that the insurer shall have to communicate in writing
to the insured or the legal representatives or nominees or
assignees of the insured the grounds and materials on which
such decision is based.
Explanation I - For the purposes of this sub-section, the
expression “fraud” means any of the following acts committed
by the insured or by his agent, with the intent to deceive the
insurer or to induce the insurer to issue a life insurance policy:-
a) the suggestion, as a fact of that which is not true and which
the insured does not believe to be true;
b) the active concealment of a fact by the insured having
Plan No.- 936
 VÏ` H$mo g{H«$`Vm go Nw>nmZm;
J) YmoIm XoZo Ho$ {bE Cn`wŠV H$moB© AÝ` H$m`©;
K) AÝ` H$moB© Eogr Ìw{Q>, {Ogo H$mZyZ {deof ê$n go H$nQ>H$mar Kmo{fV
H$aVm hmo &
ì`m»`m - II : ~r_mH$Vm© Ûmam OmopI_ Ho$ _yë`m§H$Z H$mo à^m{dV H$aZo H$s
g§^mdZm dmbo VÏ`m| na _mÌ Mwn ahZm H$nQ> Zht h¡, O~ VH$ {H$ _m_bo H$s
n[apñW{V`m§ Eogr Z hm| {H$ `{X CZ na {dMma {H$`m OmE Vmo Mwn ahZm
~r_mYmaH$ H$m `m CgHo$ A{^H$Vm© H$m H$Îm©ì` h¡ `m O~ VH$ {H$ CgH$m Mwn
ahZm ñd`§ _| hr ~mobZo Ho$ g_mZ Z hmo &
3. Cn Ymam (2) _| Mmho Hw$N> ^r C„oI {H$`m J`m hmo, `{X ~r_mYmaH$ `h
{gÕ H$a gH$Vm h¡ {H$ CgHo$ kmZ Am¡a {dœmg Ho$ AZwgma {_Ï`m H$WZ `m
_hËdnyU© VÏ` H$m Nw>nm`m OmZm ghr Wm AWdm VÏ` H$mo OmZ~yPH$a
BÀN>mnyd©H$ Zht Nw>nm`m J`m Wm AWdm _hËdnyU© VÏ` H$m Eogm {_Ï`m H$WZ
`m Nw>nmd ~r_mH$Vm© H$s OmZH$mar _| h¡, Vmo H$moB© ~r_mH$Vm© H$nQ> Ho$ AmYma
na OrdZ ~r_m nm°{bgr na {H$E JE Xmdo H$mo Im[aO Zht H$aoJm &
~eV} {H$ H$nQ> H$s pñW{V _|, `{X nm°{bgrYmaH$ Or{dV Zht h¡ Vmo Cgo
JbV gm{~V H$aZo H$s {Oå_oXmar bm^m{W©`m| na hmoJr &
ì`m»`m : Omo ì`pŠV ~r_m H$ama H$m AmJ«h Ed§ _mob-Vmob H$aVm h¡, Cgo
H$ama H$mo ~ZmZo Ho$ CÔoí` Ho$ {bE ~r_mH$Vm© H$m A{^H$Vm© g_Pm OmEJm &
4. nm°{bgr Omar hmoZo H$s VmarI go `m OmopI_ àma§^ hmoZo H$s VmarI go `m
nm°{bgr Ho$ nwZM©bZ H$s VmarI go `m nm°{bgr _| AZw~¥{Õ Omo‹S>Zo H$s VmarI
go (BZ_| Omo ^r ~mX _| hmo) VrZ df© Ho$ A§Xa ~r_m nm°{bgr na Bg AmYma
na àý {H$`m Om gH$Vm h¡ {H$ àñVmd nÌ _| `m AÝ` {H$gr XñVmdoO _|,
{OgHo$ AmYma na nm°{bgr Omar H$s JB© Wr `m nwZM©{bV H$s JB© Wr `m
AZw~¥{Õ Omar H$s JB© Wr, ~r{_V ì`pŠV H$m àË`m{eV Am`w go g§~§{YV H$moB©
H$WZ AWdm {H$gr _hËdnyU© VÏ` H$mo JbV VarHo$ go Nw>nm`m J`m Wm &
~eV} {H$ ~r_mH$Vm© H$mo ~r{_V ì`pŠV `m H$mZyZr à{V{Z{Y`m| `m Zm{_{V`m|
`m g_ZwXo{e{V`m| H$mo CZ AmYmam| Am¡a gm_J«r H$s {bpIV gyMZm XoZr hmoJr,
{OZ na OrdZ ~r_m nm°{bgr H$mo aÔ H$aZo H$m {ZU©` AmYm[aV h¡ &
`h ^r eV© h¡ {H$ `{X nm°{bgr H$mo {_Ï`m H$WZ `m _hËdnyU© VÏ` Ho$ Nw>nmZo
Ho$ AmYma na (Am¡a H$nQ> Ho$ AmYma na Zht) aÔ {H$`m OmVm h¡ Vmo nm°{bgr
na aÔ H$aZo H$s VmarI VH$ g§J«h H$s JB© àr{_`_, Eogo aÔrH$aU H$s VmarI
go 90 {XZm| H$s Ad{Y _| ~r_mYmaH$ H$mo `m ~r_mYmaH$ Ho$ H$mZyZr
à{V{Z{Y`m| H$mo `m Zm{_{V`m| H$mo `m g_ZwXo{e{V`m| H$mo AXm H$a Xr OmEJr &
ì`m»`m : Bg Cn Ymam Ho$ CÔoí` Ho$ {bE, {_Ï`m H$WZ H$mo `m VÏ` Nw>nmZo
H$mo V~ VH$ _hËdnyU© Zht g_Pm OmEJm O~ VH$ {H$ ~r_mH$Vm© Ûmam
ñdrH$ma {H$E OmopI_ na CgH$m grYm à^md Z hmo & `h {gÕ H$aZo H$s
{Oå_oXmar ~r_mH$Vm© H$s hmoJr {H$ `{X ~r_mH$Vm© H$mo CŠV VÏ` H$s OmZH$mar
hmoVr Vmo ~r_mYmaH$ H$mo OrdZ ~r_m nm°{bgr Omar Zht H$s OmVr &
5. `{X ~r_mH$Vm© Eogm H$aZo Ho$ A{YH$mar h¢ Vmo Bg Ymam H$m H$moB© àmdYmZ
~r_mYmaH$ Ho$ {H$gr ^r g_` Am`w H$m à_mU _m§JZo go ~r_mH$Vm© H$mo amoH$
Zht gH$Vm Am¡a {H$gr ^r nm°{bgr H$mo Ho$db Bg{bE àý{MpÝhV Zht _mZm
OmEJm {H$ ~r_mYmaH$ H$s Am`w àñVmd nÌ _| JbV ~VmZo H$m à_mU ~mX _|
{_bZo na, nm°{bgr H$s eVm] _| g_m`moOZ {H$`m J`m h¡ &
LIC’s Jeevan Labh Page 19 of 20
knowledge or belief of the fact;
c) any other act fitted to deceive; and
d) any such act or omission as the law specially declares to be
fraudulent.
Explanation II - Mere silence as to facts likely to affect the
assessment of the risk by the insurer is not fraud, unless the
circumstances of the case are such that regard being had to
them, it is the duty of the insured or his agent, keeping silence
to speak, or unless his silence is, in itself, equivalent to speak.
3 Notwithstanding anything contained in subsection (2), no
insurer shall repudiate a life insurance policy on the ground of
fraud if the insured can prove that the misstatement of or
suppression of a material fact was true to the best of his
knowledge and belief or that there was no deliberate intention
to suppress the fact or that such misstatement of or
suppression of a material fact are within the knowledge of the
insurer:
Provided that in case of fraud, the onus of disproving lies upon
the beneficiaries, in case the policyholder is not alive.
Explanation - A person who solicits and negotiates a contract of
insurance shall be deemed for the purpose of the formation of
the contract, to be the agent of the insurer.
4 A policy of life insurance may be called in question at any time
within three years from the date of issuance of the policy or the
date of commencement of risk or the date of revival of the
policy or the date of the rider to the policy, whichever is later, on
the ground that any statement of or suppression of a fact
material to the expectancy of the life of the insured was
incorrectly made in the proposal or other document on the
basis of which the policy was issued or revived or rider issued:
Provided that the insurer shall have to communicate in writing
to the insured or the legal representatives or nominees or
assignees of the insured the grounds and materials on which
such decision to repudiate the policy of life insurance is based:
Provided further that in case of repudiation of the policy on the
ground of misstatement or suppression of a material fact, and
not on the ground of fraud the premiums collected on the policy
till the date of repudiation shall be paid to the insured or the
legal representatives or nominees or assignees of the insured
within a period of ninety days from the date of such repudiation.
Explanation - For the purposes of this sub-section, the
misstatement of or suppression of fact shall not be considered
material unless it has a direct bearing on the risk undertaken by
the insurer, the onus is on the insurer to show that had the
insurer been aware of the said fact no life insurance policy
would have been issued to the insured.
5 Nothing in this Section shall prevent the insurer from calling for
proof of age at any time if he is entitled to do so, and no policy
shall be deemed to be called in question merely because the
terms of the policy are adjusted on subsequent proof that the
age of the life insured was incorrectly stated in the proposal.
Plan No.- 936
n[a{eï>-4 / Annexure - 4 n[a{eï>-5 / Annexure - 5
Hw$b ^wJVmZ H$s JB© àr{_`_m| na bmJy Jma§Q>rH¥$V Aä`n©U _yë` KQ>H$ Jma§Q>rH¥$V Aä`n©U _yë` H$maH$ {Z{hV ~moZg Ho$ {bE bmJy
Guaranteed Surrender Value factors applicable to Guaranteed Surrender Value factors applicable to
total premiums paid vested bonus
nm°{bgr df© nm°{bgr Ad{Y (àr{_`_ ^wJVmZ Ad{Y)/Policy Term (Premium Paying Term)" nm°{bgr df© nm°{bgr Ad{Y (àr{_`_ ^wJVmZ Ad{Y)/Policy Term (Premium Paying Term)"
Policy Year 16 (10) 21(15) 25 (16) Policy Year 16 (10) 21(15) 25 (16)
1 0.00% 0.00% 0.00% 1 0.00% 0.00% 0.00%
2 30.00% 30.00% 30.00% 2 0.00% 0.00% 0.00%
3 35.00% 35.00% 35.00% 3 17.58% 15.93% 15.28%
4 50.00% 50.00% 50.00% 4 17.66% 16.22% 15.42%
5 50.00% 50.00% 50.00% 5 17.85% 16.58% 15.55%
6 50.00% 50.00% 50.00% 6 18.16% 17.03% 15.72%
7 50.00% 50.00% 50.00% 7 18.60% 17.58% 15.93%
8 53.75% 52.30% 51.80% 8 19.18% 17.58% 16.22%
9 57.50% 54.60% 53.50% 9 19.93% 17.66% 16.58%
10 61.25% 56.90% 55.30% 10 20.85% 17.85% 17.03%
11 65.00% 59.20% 57.10% 11 21.99% 18.16% 17.58%
12 68.75% 61.50% 58.80% 12 23.38% 18.60% 17.58%
13 72.50% 63.80% 60.60% 13 25.05% 19.18% 17.66%
14 76.25% 66.20% 62.40% 14 27.06% 19.93% 17.85%
15 90.00% 68.50% 64.10% 15 30.00% 20.85% 18.16%
16 90.00% 70.80% 65.90% 16 35.00% 21.99% 18.60%
17 73.10% 67.60% 17 23.38% 19.18%
18 75.40% 69.40% 18 25.05% 19.93%
19 77.70% 71.20% 19 27.06% 20.85%
20 90.00% 72.90% 20 30.00% 21.99%
21 90.00% 74.70% 21 35.00% 23.38%
22 76.50% 22 25.05%
23 78.20% 23 27.06%
24 90.00% 24 30.00%
25 90.00% 25 35.00%

LIC’s Jeevan Labh Page 20 of 20 Plan No.- 936